Is Amwell Stock a Buy?
Investors (and people!) looking back on 2020 years from now will no doubt call it a year like no other in their lifetimes. The coronavirus pandemic has disrupted habits — and perhaps helped form new ones — around exercise, travel, work, and healthcare. Some of these new habits have been reversals of trends, while others have merely accelerated a future that was already in sight.
During this rapid shift to a “remote-everything” world, telehealth platform provider Amwell (NYSE: AMWL) decided there was no better time to go public. The company held its initial public offering (IPO) in September on the heels of second-quarter site visit growth of 300%. This increase, along with the ongoing demand for telehealth, has excited investors — the stock has doubled already since its IPO. With so much enthusiasm over the stock, is Amwell still a buy for investors?
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