ARKG - Why Teladoc Stock Popped 5% Today
Shares of Teladoc Health (NYSE: TDOC) shot 5.1% higher as of 2:05 p.m. ET on Friday after growth investing star Cathie Wood revealed continued active purchases of the telemedicine pioneer's stock on Thursday.
And not a little buying, either. According to her Ark Invest website, the Ark Genomic Revolution ETF (NYSEMKT: ARKG) and Ark Innovation ETF (NYSEMKT: ARKK) funds purchased a combined 125,702 shares of Teladoc yesterday.
Wood's funds haven't exactly been on a winning streak lately. Over the past year, ARKG shares are down 26%, while ARKK is off 42%. For its part, Teladoc stock is down 60%.
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Why Teladoc Stock Popped 5% Today