Why Teladoc Health Stock Is Jumping Today

Shares of Teladoc Health (NYSE: TDOC) are jumping today, up by 8.7% as of 10:45 a.m. ET. The virtual care leader didn't make any announcements or have any other obvious catalysts. Instead, the positive momentum for the overall stock market buoyed Teladoc's shares, with the S&P 500 rising 2.7%.

Teladoc's share price has plunged close to 70% year to date. It's not surprising that the telehealth stock piggybacked on the market's positive momentum. A rising tide tends to lift all boats.

Even if the stock market continues to move higher, though, it won't automatically mean that Teladoc will march along in lockstep. The company's share price fell significantly in 2021 at the same time the S&P 500 delivered a strong performance.

Source Fool.com