Why Teladoc Health Stock Jumped Today
Shares of Teladoc Health (NYSE: TDOC) closed Wednesday's trading session 4.6% higher after having been up by as much as 5.4% earlier in the day. The virtual healthcare leader didn't report any new developments. So why did the stock move higher? There are two likely reasons.
First, the major market indexes chalked up solid gains, and as the old saying goes, a rising tide lifts all boats. Second, the positive momentum for the healthcare stock that began last week with Teladoc's strong third-quarter update appears to be continuing. Since the company announced its results on Oct. 27, its shares are up by more than 11%. When institutional investors rotate into a stock, they often spread their buying over several days, and sometimes several weeks. We could be seeing such a pattern here.
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Source Fool.com
