NYSE:AMWLHealthcare Services
American Well (AMWL) Stock Rally Turns On Near Breakeven EBITDA
American Well stock jumped almost 25% to US$13.02 today, a sharp move for a telehealth platform that is still reporting losses and modest revenue. The market is cheering one thing above all else. Q2 brought the closest the company has been to breakeven adjusted earnings before interest, taxes, depreciation and amortization, with an adjusted EBITDA loss of about US$1.2m on US$52m of revenue.
That shift in the profit trajectory, supported by a cash pile of roughly US$196m and no debt, is what...