Why Teladoc Health Stock Initially Surged on Wednesday

Shares of Teladoc Health (NYSE: TDOC) took investors on a roller-coaster ride on Wednesday, initially surging as much as 6% before being weighed down by negative market sentiment. As of 1:45 p.m. ET, the stock was down 4.3%.

The catalyst that initially sent the healthcare company higher was its quarterly financial report, which was much better than expected.

For the fourth quarter, Teladoc Health generated revenue of $554.2 million, which climbed 45% year over year. Perhaps more importantly, the company edged closer to profitability, with a loss per share of $0.07, much improved from a loss of $3.07 in the prior-year quarter. 

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Source Fool.com