Why Teladoc Health Stock Is Jumping Today
Shares of Teladoc Health (NYSE: TDOC) were jumping 3.9% as of 10:45 a.m. ET on Tuesday after rising as much as 7.3% earlier in the day. The virtual care provider didn't have any news that served as a catalyst. Instead, today's gains appear to be the result of the positive broader market move.
Teladoc's share price often moves in tandem with the overall market. Its five-year monthly beta (which measures the volatility of a stock versus the S&P 500 index) is 0.93. This level means that Teladoc's volatility nearly matches that of the S&P 500.
But how much should investors read into Teladoc's jump today? Probably not too much. The major market indexes appeared to be climbing primarily as a result of positive earnings reports by several big companies. However, Teladoc hasn't announced its latest quarterly earnings yet.
Source Fool.com
