One bullish stock to play Health care and Tech

By Todd Gordon 13, 2020

Doctor’s orders are going virtual.

With Covid-19 case counts on the rise again, Teladoc, a stock at the crossroads of health care and technology, could be an ideal bet for investors looking for ways to brace for possible volatility.

“This company … has a possibility to really disrupt the health-care system as we know it over the next decade,” Gordon said.

Now boasting a $26.4 billion market cap, Teladoc specializes in remote health-care services and analytics. The company closed a deal to acquire artificial intelligence company Livongo last week and has been developing ways to provide preventative treatment via “digital maintenance”.

“The total addressable market is … just around a half a trillion dollars going forward, so, in light of this new health-care, digital, work-at-home, stay-at-home, maybe health-care-at-home age, I’m really liking the outlook from a technical point of view as well as a fundamental point of view.

On the technical front, the stock’s nearly 858% run since its 2015 IPO has been nothing short of “amazing”.

After a pullback toward the end of 2018 and subsequent rally higher, Teladoc has now entered a period of consolidation.

“I would say, in light of the recent market volatility, the shape of this correction is nothing to be concerned about,” he said. “In fact, I think it’s actually quite constructive.”

“The correction looks to be complete. It looks like we’re starting to move up here,” he said. “We just reported earnings. They were very strong. They just settled that merger with Livongo last week. The volatility is well out of the stock, and I think it’s set to rebound.”

“I will be looking to add this stock to my portfolio as well as to our clients’ portfolio”.

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