Telehealth Stocks You Need to Know

6/9/2021

Key Points

Investors Wait for Consumer Price Index While The Market Goes Red
The Telemedicine and Telehealth Industry Is Here to Stay, Even After the Pandemic
Telehealth Services Clover (CLOV) and iRobot (IRBT) Take A Hit

Overall Market

Investors Wait for Consumer Price Index While The Market Goes Red

All three market indices ended in the red today.

Much like the past couple of weeks, investors remain unsure of what the future holds. This week it seems investors are waiting for the Consumer Price Index to shed some light on inflationary fears. Let's see how it changes the market's sentiment when it comes out tomorrow, June 10th.

Stock TO Buy Now

The Telemedicine and Telehealth Industry Is Here to Stay, Even After the Pandemic

Folks, as you know, on Stock Card's Stock Pick page, we host the portfolio of several successful investors. These investors are your favorite YouTubers, stock-picking newsletters, and content creators. One of the most followed investors on Stock Card, is Joseph Hogue, from the Let's Talk Money channel.

Joseph publishes a new video every Monday and uses Stock Card to do his research. This Monday's video is quite interesting. He used the Telemedicine list of stocks on Stock Card to pick three stocks you have never heard of but should buy now.

Joseph argues that telehealth services benefited heavily from removing red tape and accelerated their adoption thanks to the pandemic.

Visit Joseph's Bow Tie Nation portfolio on the Stock Picks page, here's the full video:

What's Down

Telehealth Services Clover (CLOV), and iRobot (IRBT) Take A Hit

Let's keep the telemedicine and telehealth stock theme today. As we discussed, although the pandemic caused plenty of serious challenges throughout the healthcare industry, the silver lining is the advancements we saw born out of necessity. Just like Joseph Hogue, I used the Stock Card's telehealth stock list for today's stock review. Three companies grabbed my attention:

Clover Health (CLOV) is a good example of telehealth. They provide a great insurance model and patient-centered analytics. Recently, Reddit has set its sights on the heavily-shorted company, hoping to trigger another price squeeze. As with many similar situations, the share price is registering heavy dips, closing today down 23.61%. With zero notable news today, it’s safe to assume that this drop is retail investors cashing out on their gains. CLOV stock has roughly doubled in the last 30 days, from $8.26 to $16.96
Another telehealth stock that caught my eye was iRobot Corp (IRBT). We all know the company for the iconic Roomba cleaning robot. So, I was surprised to see iRobot on the telehealth stock list. Recently, the FDA cleared iRobot’s new RP-V model that assists workers in hospitals. The stock is down today by more than 4%, but this can be an excellent diversification and growth potential for IRobot investors have been waiting for.
Last but not least, with many exciting names floating around the industry, it’s easy to forget the giants eyeing the healthcare scene. Amazon (AMZN) announced today that it has and will continue to sign up many companies for its new telehealth service, Amazon Care. With its infrastructure and massive capital, it's not difficult to imagine Amazon has a shot at dominating the market. Some analysts even assume Teladoc Health’s (TDOC) 1.6% loss today is due to Amazon news.

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