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The Price And Volume Action In American Well s Stock Today
American Well s (NYSE:AMWL) stock has been falling Wednesday, down 6.64% to a price of $20.74. The stock s volume is currently 1.37 million, which is roughly 58.1% of its recent 30-day volume average of 2.36 million.
Why It s Moving
Benzinga Pro s real-time breaking news service shows some insight into what is affecting shares: American Well Corp shares are trading lower amid Amazon s expansion of its Amazon Care telehealth service, which has raised competitive pressures on telemedicine providers.
Perspective On Recent Price Action
The 50-day moving average price of American Well s stock was $28.96 when this article was published. The stock reached a high of $43.75 and a low of $20.1 in the past 52 weeks.
Amazon jumps into health care with telemedicine initiative
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March 17, 2021
Amazon is making its first foray into providing health care services, announcing Wednesday that it will be offering its Amazon Care telemedicine program to employers nationwide.
Currently available to the company’s employees in Washington state, Amazon Care is an app that connects users virtually with doctors, nurse practitioners and nurses who can provide services and treatment over the phone 24 hours a day. In the Seattle area, it’s supplemented with in-person services such as pharmacy delivery and house-call services from nurses who can take blood work and provide similar services.
Amazon Plans to Offer Telehealth Services to Other Companies
Matt Day, Bloomberg News The Amazon.com logo is displayed outside the company s fulfillment center in Kenosha, Wisconsin, U.S. Photographer: Jim Young/Bloomberg , Photographer: Jim Young/Bloomberg
(Bloomberg) Amazon.com Inc. is expanding digital medical consultations to its employees across the U.S. and says it will start offering the service to other companies later this year.
Amazon Care started as a pilot for employees in and around the companyâs Seattle headquarters, offering virtual and in-person medical services. As of Wednesday, Amazon started offering the service to other Washington-based companies, Amazon said in a blog post. This summer, the company will start offering Amazon Care to the rest of its employees in the U.S., as well as other companies.
Should You Buy American Well Corp (AMWL) Stock Before It’s Too Late?
Baron Growth Fund recently published its fourth-quarter commentary – a copy of which can be downloaded here. During the fourth quarter of 2020, the Baron Growth Fund returned 21.1% (institutional shares). In comparison, the benchmark S&P 500 Index was up 12.15%, while the Russell 2000 Growth Index was up 29.61%. You should check out Baron Growth Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, the fund highlighted a few stocks and American Well Corp (NYSE:AMWL) is one of them. American Well Corp (NYSE:AMWL) is a healthcare company. In the last three months, American Well Corp (NYSE:AMWL) stock lost 23.5% and on March 16th it had a closing price of $22.02. Here is what the fund said: