Teladoc stock (NYSE:TDOC)
Teladoc stock (NYSE:TDOC) is up 3.9% as of 10:45 AM ET, after a previous surge of 7.3%. The company did not have any encouraging information to provide. Instead, the upward trend in the broader market seems responsible for today’s gains in Teladoc stock.
Then What?
The share price of Teladoc stock often follows market trends. As a measure of price volatility relative to the S&P 500 index, its beta (calculated every month) for the last five years comes at 0.93. Teladoc’s volatility is quite close to matching that of the S&P 500 at this point.
Yet, how much weight should today’s increase in Teladoc stock price be given by investors? Maybe not too much. Positive earnings results from several large corporations looked to be the primary driver of the uptick in the leading market indices. Teladoc has not yet released its financial results for the most recent quarter.
Conversely, suppose the market is rising rather than falling. In that case, Teladoc stock price will have a lot easier time gaining traction in the correct direction. If the S&P 500 continues to rise, investors in the business’s stock should expect a higher bump should the company announce positive news soon.
What’s Next?
The third quarter financial results for Teladoc Health will be released on October 26 after the market close. Investors anticipate the business will report a net loss of $0.55 per share and roughly $608.8 million in sales for the third quarter. If Teladoc Health can reach or exceed these expectations, the recent uptick in the stock price may have staying power.
Featured Image- Megapixl @ Rafaelhenriquepress
Author Shariq Khan 
