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Why Teladoc Health Stock Took a Spill but Got Back Up Today

TheMotleyFool

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Shares of virtual healthcare provider Teladoc Health (NYSE: TDOC) tumbled nearly 5% in early trading Friday before turning around and climbing back into the green. The company announced this morning that CEO Jason Gorevic is departing the company "effective immediately," to be replaced by current CFO Mala Murthy as acting CEO.

As of 11:10 a.m. ET, Teladoc shares are up about 0.2%.

Teladoc gave no clear explanation for why Gorevic, who has led Teladoc since June 2009, is leaving. The fact that he's leaving "effective immediately," and with no apparent plan for succession -- the company's board is only now hiring an executive search firm to search for a successor -- certainly added to investor worry.

Source Fool.com

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