Cathie Wood Stock Pick Teladoc Sinks 40% After Slashing Forecast

$Teladoc Health(TDOC.US)$ a telemedicine company that is one of Cathie Wood’s biggest investments, lost almost half its value Thursday after slashing its forecast on cost inflation and a slowdown in sales. $ARK Innovation ETF(ARKK.US)$
The shares tumbled 40%, the biggest single day selloff since the company went public in 2015. Teladoc, a former stay-at-home winner, extended a slump that’s wiped out nearly 90% of its value since a record high set in February 2021.
The company is part of a group of former pandemic winners backed by Wood. Others including $Zoom Video Communications(ZM.US)$ have been hit by the ending of covid lockdowns and concerns around rising interest rates that have weighed on growth stocks.
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