Why Teladoc Health Rose on Friday While the Market Slipped
Teladoc Health (NYSE: TDOC), the most high-profile stock in the rapidly emerging telehealth segment, closed almost 3.1% higher on Friday. There was no news of any note from the company that day; rather, its stock seems to be piggybacking on the successful debut of a peer telemedicine services provider.
That peer is Amwell (NYSE: AMWL), which made an auspicious debut in its first day of trading on Thursday and basically held its value the next day. Beset by intense demand, the new stock closed the day 28% higher than its initial public offering (IPO) price of $18. That price, meanwhile, was raised from Amwell's original $14 to $16 range.
Image source: Getty Images.
Source Fool.com
