Google Telehealth Partner Amwell Zooms 28% Higher in First Days of Trading
Telemedicine services provider Amwell (NYSE: AMWL) was a star on the stock market Thursday and Friday. Making its debut on the New York Stock Exchange on the former day just after its initial public offering (IPO), it rose nearly 30%, and the following day its price dropped only slightly.
Amwell's popularity seems to spring from two sources. First, investor demand for IPOs generally, and tech-flavored IPOs specifically, is very strong right now.
Secondly, other operators active in the telehealth segment -- Teladoc is the best example -- have been have been posting impressive growth in operational metrics and certain financials lately. This is due, of course, to the stay-in-place measures mandated or encouraged by authorities in the face of the coronavirus pandemic.
Source Fool.com
