TDOC - Could Teladoc Be a Millionaire-Maker Stock?
Since the beginning of the year, Teladoc Health's (NYSE: TDOC) stock price has risen by more than 146%, as the COVID-19 pandemic has led to surging demand for online physician visits. Likewise, Livongo Health (NASDAQ: LVGO) stock is up more than 418% this year thanks to rising demand for its namesake app, which provides virtual health management for patients living with diabetes. Especially given the Aug. 5 announcement that Teladoc will be acquiring Livongo, these growth rates may have shareholders asking whether Teladoc could turn them into millionaires.
It's certainly possible, thanks to Teladoc's growing momentum. While the market did react unfavorably to Teladoc's announcement -- its stock was down nearly 20% that day -- it's worth remembering that its $18.5 billion acquisition of Livongo will undoubtedly make the combined entity the No. 1 leader in virtual-health consulting. With this in mind, let's examine why Teladoc's momentum is far from over.
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