Teladoc Tumbled 38% After Big First-Quarter Loss. Is It Just a Pandemic Play?

Teladoc Health shares tumbled 38% in Wednesday’s after-hour trading, after the remote healthcare provider reported deeper-than-expected losses for the first quarter and cut its financial projections for the year. The stock already had slid 70% over the past 12 months as the telemedicine company struggled to shake off concerns that it’s just a pandemic play.

During the first three months of 2022, Teladoc (ticker: TDOC) posted a loss of $6.67 billion, or $41.58 a share. Analysts polled by FactSet had been expecting a loss of…