With its YTD loss of over 33%, Teladoc Health (TDOC) is underperforming the S&P 500 Index ($SPX) by a wide margin. The stock peaked at a closing high around $295 in February 2021, and has been sliding ever since - including a 74% fall in 2022.
TDOC was in the red last year, as well, even as the broader markets rallied. While TDOC stock has burned a big hole in investors’ pockets and many former bulls have looked the other way, Cathie Wood of ARK Invest doubled down on this underperforming telehealth stock last year. Her ARK Investment Management is the biggest shareholder of Teladoc Health, and owns a 12.71% stake in the company.
