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Why Teladoc Stock Dropped on Friday

TheMotleyFool

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Shares of telemedicine pioneer giant Teladoc Health (NYSE: TDOC) slipped 1.9% through noon ET on Friday, giving back about half of the 4% the stock had gained in Thursday's market rally.

This happened despite news that famed growth investor Cathie Wood continues to buy the stock and is even increasing the pace of her purchases.

As Cathie Wood's ARK Innovation ETF (NYSEMKT: ARKK) website attests, Wood has been buying Teladoc pretty steadily through the second half of this month. Indeed, no sooner had Teladoc stock fallen below $27 a share than ARK began buying -- in nibbles at first, with fewer than 4,000 shares bought on Dec. 15, but lately in increasing volume.

Source Fool.com

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