$TDOC – We were right, just too early. The recent stock decline stems from the fact that the last time Livongo's monthly active user numbers were this strong, the stock was trading over $15. Now, even after Bank of America reported a 55% year-over-year increase in Livongo usage, the largest increase since January 2025, Livongo has fallen to $8.50. Livongo is the SaaS pillar of Teladoc's recurring insurance growth, while BetterHelp is a drag on the stock. Once the government shutdown ends, the stock could surge. The largest telehealth company in the US is trading at a low price. Telehealth remains a mega-trend in AI to watch.