Multiple Teladoc Health programs will be available on Amazon's platform
Virtual healthcare company Teladoc Health Inc (NYSE:TDOC) announced a new partnership with e-commerce giant Amazon.com (AMZN), making its diabetes, hypertension, and weight-management programs available on the latter's platform.
Teladoc Health stock is responding positively to the news, up 1.7% to trade at $9.87 at last check. While TDOC remains down 52% year over year and is still struggling with overhead pressure from the $11 region, it's off to a strong start in 2025, boasting a 6.6% gain so far.
Options traders are jumping in after the news, with the security's typically quiet options pits seeing a surge in bullish activity. So far today, 1,000 calls have already been traded -- five times the intraday average volume -- with positions being opened at the most active weekly 1/24 10-strike call.
This positive momentum could push hesitant analysts to revise their ratings. Currently, 18 of 25 brokerages rate Teladoc Health stock a lukewarm "hold." Plus, short interest fell 10.4% over the past month, but the 23.53 million shares sold short still make up 14% of TDOC's total available float — a setup that could fuel additional gains if bearish bets continue to unwind.