Teladoc Stock Collapsed This Week: Here's Why
Shares of Teladoc Health (NYSE: TDOC) collapsed over 30% this week, according to data from S&P Global Market Intelligence. The telehealth provider posted weak revenue growth, more operating losses, and bad 2024 guidance in its 2023 earnings release. Investors have soured on Teladoc stock after it boomed in 2020.
The pandemic-era favorite is now off 95% from all-time highs, meaning for every $100 invested at its share price peak, only $5 remains today.
In the fourth quarter, Teladoc's revenue was $661 million, well below analyst estimates of $671 million. Revenue grew by just 4% in the quarter, while the company continues to lose money. In all of 2023, Teladoc had an operating loss of $250 million despite putting in multiple quarters of cost cuts.
Source Fool.com
