Feb 28, 2020 - Health

Teladoc's coronavirus stock bump

Photo: Johannes Eisele/AFP/Getty Images

Fears about the coronavirus haven't shattered every stock. Look at the telehealth firm Teladoc.

Driving the news: Teladoc's stock price has soared 19% this week and is now valued at almost $10 billion, because apparently Wall Street believes we will only see doctors on our iPads or on the phone as we avoid the outside world.

Reality check: Teladoc is getting more people to use digital checkups, but the company is not remotely close to turning a profit.

  • Teladoc lost about $100 million in 2019, which was roughly the same loss as 2018.
  • Teladoc is still spending 20% of its revenue on advertising and marketing.
  • Teladoc has had major accounting problems.
  • And there are still concerns telehealth visits don't save money and instead are precursors to in-person clinic visits.

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One high-profile group of stocks has been doing particularly badly during the coronavirus crisis — the 30 companies that make up the Dow Jones Industrial Average.

The state of play: The Dow stocks are down 33% over the past month, compared with a 30% decline for the S&P 500, and a 24% drop for the more tech-focused Nasdaq. On up days and down days the Dow has generally underperformed the market as a whole.

Stocks plunge 7% at close of Wall Street's brutal day

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U.S. stocks closed more than 7% lower on Monday, after a wild day for the stock market that saw a rare halt in trading.

Why it matters: The sell-off reflects serious fears that the oil price drop and the coronavirus could throw the economy into a recession.

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Tech giants set to lose billions in ad revenue in virus shutdown

Illustration: Aïda Amer/Axios

Tech giants like Google, Facebook and others are expected to lose billions of advertising dollars this year thanks to economic disruptions caused by the coronavirus pandemic, analysts say.

Why it matters: The losses aren't expected to cripple these companies, but they will put a dent in the otherwise unprecedented growth that several have experienced for the past few years.