American Well Corporation shares are trading lower in sympathy with telehealth peer Teladoc, which reported mixed Q4 financial results and issued weak guidance.
Portfolio Pulse from Benzinga Newsdesk
American Well Corporation (AMWL) shares are trading lower due to negative sentiment from Teladoc's mixed Q4 financial results and weak guidance, affecting the telehealth sector.
February 21, 2024 | 8:34 pm
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NEGATIVE IMPACT
AMWL shares are trading lower influenced by Teladoc's disappointing Q4 financial performance and future outlook, impacting investor sentiment in the telehealth sector.
AMWL's stock price is negatively impacted in the short term due to its association with the telehealth industry, which is currently under pressure from Teladoc's less-than-expected Q4 results and future outlook. This situation creates a negative sentiment among investors towards companies in the same sector, including AMWL, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80