AMWL - Teladoc 1Life lead a rally in telehealth

Telehealth providers are trading sharply higher on Thursday despite a year-to-date selloff driven by concerns over the durability of pandemic-era growth as normalcy returns with the relaxation of COVID-related restrictions. Notable gainers include 1Life Healthcare (ONEM), Teladoc Health (NYSE:TDOC), Health Catalyst (HCAT) and American Well (AMWL) all of which have dropped more than 70% over the past 12 months as shown in this graph. Investors flocked to telehealth providers during the pandemic as demand for their services surged as fears of highly contagious virus kept patients at home amid government-imposed social restrictions. In 2020 Teladoc (TDOC) reported over $1B revenue, nearly double that in the previous year while its rival American Well (AMWL) posted ~65% YoY growth. However, the growth slowed down since then as COVID concerns eased. In April, Teladoc (TDOC) shares plunged after the company fell short of expectations with its 1Q 2022 results and revised down the

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Teladoc, 1Life lead a rally in telehealth