Two ARK exchange-traded funds run by ETF star Cathie Wood bought over 225,000 shares of Teladoc Health,Inc. (NYSE: TDOC) shares on Wednesday, as the prices of those ETFs each gained about 1% in Wednesday’s session. Each is up well over 200% in the last year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 174,957 shares of Teladoc Health, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought an additional 52,148 shares. At Wednesday’s closing price this would have valued this purchase at roughly $43 million. Each is a small fraction of the total holdings. ARKK is up 239% in the last year. ARKW is up 248% over the same period.
Teladoc Health is one company that has been winning because of the coronavirus pandemic, even if it has pulled back a fair amount recently. Shares reached nearly as high as $300 in February, practically triple the price of one year ago.
While this may overly simplify its business model, what makes Teladoc stand out from regular health clinics is that people effectively video conference with a physician who can then advise them what to do or where to go.
Considering how most things have been trending towards video conferencing in a post-corona-world, Teladoc may have a leg up on the rest of the industry. Still, it’s meant to be a lot simpler getting a video conference on a computer or a mobile device than it is to call a physician and get an office visit appointment.
Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of a673b.bigscoots-temp.com.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
