Investors frequently dream of buying the next Apple or Tesla early and earning outsized returns. Finding such stocks at their earliest stages is difficult, but not impossible -- some up-and-coming stocks do show signs of great success relatively early. One of these is Teladoc Health (NYSE: TDOC).
Yes, Teladoc has risen well off its 2016 lows in the $9-per-share range. However, COVID-19 shined the light on its telehealth services as patients needed a way to visit a doctor without going to an office crowded with other sick patients.
The stock has already risen by more than 160% year to date. And telehealth isn't just a pandemic thing; it's here to stay. According to Fortune Business Insights, the global telehealth market will grow to an estimated value of $266.8 billion by 2026. This represents a compound annual growth rate (CAGR) of 23.4%.