Teladoc Health Gains Short-Lived Boost From Amazon’s Telehealth Shutdown
August 31, 2022
Trending News ☀️
When Amazon announced last week that it was shutting down its competing telehealth service, Teladoc Health($NYSE:TDOC) received a brief surge of buying interest.
However, the gains proved short-lived, as Wall Street remains littered with skeptics, who see significant headwinds for the company. This worry comes even as the stock sits 90% off its pandemic highs, weighed down by receding COVID demand and a murky economic environment. Do you think this will affect TELADOC HEALTH market and earnings in the long term? It’s difficult to say. Teladoc Health has been struggling to gain traction with investors, even before Amazon entered the picture. And now that Amazon is out of the picture, it’s unclear if Teladoc Health will be able to gain the upper hand.
Teladoc Health, a telehealth company, saw a brief boost in its stock prices on Tuesday after Amazon announced that it was shutting down its own telehealth service. Teladoc’s stock opened at $31.3 and closed at $31.1, before falling back to its previous levels. While the boost was short-lived, it highlights the growing importance of telehealth services and the potential for companies like Teladoc to benefit from the growing demand.
Teladoc Health, Inc is a provider of telehealth services. The company’s services are delivered through a mobile app and website that connect patients with doctors and other healthcare professionals for consultation, diagnosis, and treatment. Teladoc Health’s financial and business practices present potential risks to investors. The company has a history of losses, and its business model is reliant on continued growth to generate profits. Teladoc Health’s ability to maintain its customer base and attract new customers may be hindered by competition from traditional healthcare providers and other telehealth companies.
For more details please visit Risk Rating.
Teladoc Health Inc shares saw a brief boost on Thursday after Amazon.com, Inc announced it was shutting down its Amazon Care pilot program. Amazon Care is a pilot program that offers employees in Seattle and the surrounding area access to primary and urgent care services via a mobile app. While the program was only available to a limited number of employees, it was seen as a potential threat to Teladoc’s business. Teladoc is the leading provider of telehealth services in the United States.
Leave a Comment