In health care tidbits this week, I’ve been stock trading telehealth. Now I am overall bitter that I wasn’t a true believer and missed the massive rise of Livongo and Teladoc in 2020. Jess DaMassa, who is the stock trader par excellance I know, was in both and bought some Tesla for good measure (no Bitcoin though!).
Since late 2020 I’ve been dipping into and out of Teladoc and Amwell, trying to play their ranges. Usually it’s been working out OK, but this past couple of weeks those stocks took a hell of a tumble. First off the whole market was down, but much worse Amazon found a client (albeit a small one) for its AmazonCares program, and Walmart bought a virtually unknown telehealth company. This was cause for traders to mark down $TDOC, and when $AMWL’s results this week were very underwhelming it plummeted too. $AMWL is at about ¼ of its 52 week high and $TDOC is at about ½ of its price back in February.
But Jess noted that when Bertha Coombs of CNBC asked Teladoc CEO Jason Gorevic what he thought, he came out swinging!