Teladoc (NYSE:TDOC) stock is on the move today as investors in the telemedicine company react to news of Amazon (NASDAQ:AMZN) acquiring One Medical (NASDAQ:ONEM).
While today’s news has ONEM stock rising higher, it looks like holders of TDOC stock aren’t happy about it. But why should investors in Teladoc care if Amazon acquires One Medical?
To put it simply, Amazon increasing its presence in the healthcare space is scaring some investors. The e-commerce giant has already proven it can use its massive funds and supply chains to be a strong competitor in more than its primary market.
With that in mind, it makes sense that investors in TDOC stock would see Amazon acquiring One Medical as bad news. It brings the world’s biggest e-commerce giant into a new market. Amazon has already thrown its weight around against book stores, and grocery stores. It’s even making gains in the streaming business with Prime Video.
TDOC stock has seen a fair bit of volatility today following news of the Amazon deal. This saw the shares start out trading lower today with weak trading volume of about 4.9 million shares. That’s still below its daily average trading volume of about 8.5 million shares.
TDOC stock has recovered from its fall this morning and is now up slightly as of Thursday afternoon.
There’s more recent stock market news traders will want to check out below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
