Teladoc Health (NYSE: TDOC) fell more than 50% last year -- and at the time, investors hoped for a recovery this year. But things got worse for the telemedicine giant. And that "worse" came in the form of two billion-dollar non-cash goodwill impairment charges. Teladoc also suffered as the current economic environment weighed on business. For example, potential customers -- hurt by rising inflation -- took longer to sign deals with Teladoc.
Today, Teladoc shares are heading for a 64% annual decline. So, now, investors are asking themselves the same question they asked themselves a year ago: Will Teladoc recover in the new year? Let's take a closer look -- and find out whether 2023 might bring victory to Teladoc and its investors.
First, let's consider Teladoc's path to this point. The company's revenue already was on the rise before the pandemic. But the health crisis gave Teladoc an extra boost. That's as people preferred a virtual medical visit to contact with others in medical offices. As a result, Teladoc's revenue and visits soared in the triple digits in the early stages of the pandemic.
Source Fool.com