The Real Reason Teladoc Is Struggling
Shares of struggling telehealth company Teladoc Health (NYSE: TDOC) collapsed after it recently released earnings for the first quarter of 2022. After shooting to roughly $300 per share in early 2021, the stock sits at just under $40, a staggering decline of more than 80%.
Management formally addressed its embattled 2020 acquisition of Livongo for $18.5 billion with a write-down on Livongo that reduced its value by $6.6 billion, essentially saying to shareholders, "We messed up."
It seems widely accepted that Teladoc's Livongo merger has gone poorly, but I don't know that the poor results of the merger adequately explain the stock's struggles. Here is the real reason I believe that investors are losing faith in Teladoc.
Source Fool.com
