Looking at those stocks that have already fallen to the bottom, many people might wonder if they are picking up a bargain. However, a stock being depressed does not mean it will always rebound—there are cases where there is little reason to believe it can turn around, such as **Teladoc Health** and **Sarepta Therapeutics**, two healthcare companies that have underperformed in the market this year and currently seem not worth investing in.

Let's talk about **Teladoc Health** first. Teladoc is a pioneer in the telemedicine industry, but it is currently facing significant resistance. First, its revenue growth rate is far from what it used to be, and it is even uncertain whether it will continue to grow. In the second quarter, revenue decreased by 2% year-on-year, totaling only $631.9 million. Especially its virtual therapy platform BetterHelp, which was once its biggest growth driver, is now facing intense competition.

It is currently still in a loss position, with a net loss of $0.19 per share in the second quarter. Although this represents a significant improvement from $4.92 in the same period last year, there is still a long way to go before profitability is achieved. Last year, Teladoc's BetterHelp business was hit by goodwill impairment, which is just a reflection of its financial volatility over the past few years. Increasing marketing expenses seem to be dragging down its financial performance, despite core service integration and the number of care unit members increasing by 11% to reach 102.4 million, and the international market, especially the business in Canada, is also expanding. However, the overall outlook remains uncertain.

From an investment perspective, the risks of Teladoc are too high; let's wait until it shows a clear turnaround signal.

Let's take another look at **Sarepta Therapeutics**. Sarepta, whose stock price has fallen 85% this year, focuses on rare diseases, but its gene therapy Elevidys has come under close scrutiny due to liver toxicity issues that led to the deaths of two patients. This therapy is an important product aimed at DMD, a muscle-wasting disease, and even received approval for the U.S. market in 2023, contributing a significant portion of the company’s revenue.

However, by the second quarter, revenue had fallen to $362.9 million, an increase of 39% compared to the same period last year, but still a 51.2% decrease compared to the first quarter. At this stage, although the company has reached an agreement with government agencies to continue providing drugs, it still faces severe challenges, especially as another study has reported similar drug-related deaths.

Sarepta is working hard on research and development and the future path of the company. However, at this stage, there are too many challenges and uncertainties, so it is better to be cautious and continue to observe.