Why Shares of Teladoc Rose 15.77% on Thursday
Shares of telemedicine company Teladoc Health (NYSE: TDOC) rose 15.77% on Thursday. The stock closed on Wednesday at $26.76 and opened on Thursday at $29.13. It climbed as high as $30.99 in the late afternoon before ending the day at $30.98. The stock is still down more than 66% so far this year and is a lot closer to its 52-week low of $23.08 than its 52-week high of $139.49.
Much of the run can be attributed to the general euphoria in the markets Thursday when inflation numbers came in lower than expected, meaning the Federal Reserve may slow down its rate of interest rate increases.
Teladoc is also up more than 26% over the past month, thanks in a big part to its encouraging third-quarter report, which it released on Oct. 26. The company reported revenue of $611.4 million, up 17% year over year, and said it had net losses of $73.5 million, or a loss in $0.45 in earnings per share (EPS), compared to a net loss of $84.3 million, or an EPS loss of $0.53, in the third quarter of 2021.
Source Fool.com
