In our busy lives, very few people have time to wait in a doctor's office for a routine check up. Teladoc provides a much more convenient solution. Why note just have a virtual visit with a doctor instead? Even once COVID-19 is over, I think people will prefer to see a doctor this way. First, it allows them to avoid traveling and waiting in a doctor's office. Second, it enables patients to see a doctor who they really like that may not practice in a location close to them. From a doctor's point of view, it allows them to choose a more affordable location for their office and to potentially see more patients since the visit is done remotely.
The chart of Teladoc Health ($TDOC) is also very constructive. TDOC went on a monster run in the Spring of 2020 as COVID-19 ripped across the globe. During the past seven months or so, it has been moving quietly sideways after acquiring Livongo Health.
What really appeals to me about TDOC is two things. First, it is building an extremely large base on the weekly chart. A base of this length can lead to an explosive multi-month move higher. In addition, Teladoc has a service that can change the lives of almost everyone. Companies that offer revolutionary products that can drastically improve the lives of millions of people offer the potential for enormous gains. Think Tesla and Zoom in 2020.
I took a position in Teladoc today. I will look to add to my position if further buy points emerge and my initial buy continues to show me a profit.
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Full Disclosure: Teladoc is a stock I currently own.
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