MONDAY, NOVEMBER 16th, 2020
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WEEKLY POSITION MONITOR UPDATE
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On Monday’s Health Care Webcast, we will cover:
- Hedgeye Survey - Will you take a COVID-19 Vaccine? | Given the many surveys we’ve seen targeting Americans’ willingness to get vaccinated for COVID-19, we decided to launch our own. Following the data released from our original survey in late October, we now have an additional 800+ responses showing a slight improvement in willingness to receive the vaccine (following the good news from Pfizer and BioNTech). On Monday, we will review how many people actually need to receive the vaccine for it to prove effective and what the updated results mean for our universe going forward ($CVS).
- $TDOC - COVID Comps are Coming | As we’ve seen from our weekly Microquad updates, the recovery and subsequent “melt-up” from reports of “better- than- expected” results are over. As the reality of a vaccine becomes, just that, real, many companies will soon face their #COVIDComp. Depending on how your business was impacted, the COVID comp works both ways. For TDOC and other companies that benefited from stay-at-home ($HRC, $MASI), the comparison is 100-year type hard. For everyone else, 2021 is broad side of a barn easy.
- $AMWL, $GDRX - Back to the Grind | After earnings season wraps, we’ll be turning our attention back to the recent IPO’s we were covering heavily prior, American Well ($AMWL) and GoodRx ($GDRX). For $AMWL, despite an impressive triple digit YoY growth in total active providers, the market reacted negatively to the implied 4Q20 revenue guidance. For $GDRX, after reporting record MAUs during the quarter, will results be enough for the market? On this week’s position monitor update, we'll update our trackers and continue to advance the analysis toward an active long or short.
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