Why Teladoc Health Could Be an Extremely Underrated Buy
Last year, share prices of Teladoc Health (NYSE: TDOC) plummeted 74%. The telehealth company struggled to get its growth rate up, and its losses were in the billions. As a result, investors turned bearish on the stock. But there is reason to be optimistic about the business and its ability to bounce back.
Here is why Teladoc could be an underrated stock to buy and contrarian investors should consider loading up on it right now.
Last year was a troubling one for Teladoc as the company made multiple significant writedowns to goodwill due to its 2020 acquisition of chronic care company Livongo Health. As a result, in the six-month period ending June 30, 2022, Teladoc reported a net loss of just under $9.8 billion. Over the past six months, however, without any huge impairment charges, the company's net loss was just $134.4 million. Although Teladoc isn't profitable, it is at least going in the right direction.
Source Fool.com
