Amwell stock soars: 5 things to know

Amwell stock jumped 38 percent over a five-day span from Oct. 2 to 7, according to a Business Insider report.

Here are five things to know:

1. Amwell went public on Sept. 8 after reporting a surge in active providers and telehealth visits during the pandemic. The company went from fewer than 10,000 active providers in March to around 57,000 in June.

2. Prior to the pandemic, Amwell's core business focused on its standalone medical group, but it pivoted to help health systems and clinics operate telehealth services as those organizations rapidly scaled telehealth capabilities.

3. Amwell works with 55 health plans that cover around 80 million people and 36,000 employers.

4. Jeffries healthcare analyst Jared Holz attributed Amwell shares' steep price increase to interest from a potential buyer: UnitedHealth Group. However, UnitedHealth Group inked a contract with Teladoc in 2019 as the payer's national virtual visit provider.

5. On Oct. 8, Amwell stock opened at $41 per share, up from $38.74 at close on Oct. 7.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars