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Why Shares of American Well Trounced the Market on Tuesday

Why Shares of American Well Trounced the Market on Tuesday

One of a slew of recent initial public offerings (IPOs), telemedicine services provider American Well (NYSE: AMWL), did well on Tuesday. The catalyst for the latest pop seems to be two updates American Well issued about its IPO, one after market hours on Monday, and the other on Tuesday morning. Meanwhile, the IPO's underwriters fully exercised their right to buy additional shares (6.2 million, all told).