Teladoc Stock Just Sank. Time to Sell?
Teladoc Health (NYSE: TDOC) has taken investors on a roller-coaster ride over the past few years. During the earliest days of the pandemic, the telemedicine giant soared, along with its revenue and virtual visits, as people favored staying home. Then the shares declined in more recent times as investors worried about the company's ability to reach profitability.
The company heard those concerns, and last year, it set to work on a plan to cut costs, boost efficiency, and balance the quest for revenue growth with the quest for profitability. That helped Teladoc report its "most profitable" year ever in 2023, according to Chief Executive Officer Jason Gorevic, as the company grew adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) 33% and delivered free cash flow of almost $194 million.
Still, the shares sank in the double digits in one trading session after the company's tepid forecast for 2024.
Source Fool.com
