Why Teladoc Health Lost 64% in the First Half of the Year

Shares of Teladoc Health (NYSE: TDOC) have gotten slammed this year as the telehealth company is one of many unprofitable growth stocks that has fallen sharply this year. Through June 30, it was down 64%, according to data from S&P Global Market Intelligence.

A weak second-quarter earnings report, which included a massive write-down and a guidance cut, helped sink the stock, as did shifting market sentiment. Investors may also have started to think that Teladoc, which is often considered to be the leader in telehealth, may lack a sustainable competitive advantage. The future of telehealth also seems uncertain after the pandemic gave it a temporary bump.

As you can see from the chart below, the stock has been on a downward trajectory for most of the year.

Source Fool.com