1Life Healthcare, Inc (NASDAQ: ONEM) Holds On To Gains 2 Months After IPO, Despite Market Volatility

1Life Healthcare, Inc (NASDAQ: ONEM) has been one of the top-performing IPOs in 2020. In spite of the market volatility that came with the COVID-19 pandemic, the stock has held on to gains even as other IPOs crumble. It went public two months ago at $14, and as of yesterday’s close, it was trading at $20.55.

Since going public, the company has made a number of positive announcements. A week ago, it announced that it was offering free COVID-19 virtual care and testing. It stated that it would do this through its highly modernized membership-based primary care system. The platform offers round-the-clock digital healthcare that is best for in-office care. Through its virtual medical team, the company announced that it would help the public assess symptoms, and offer clinical guidance. 

At the time, CEO Amir Dan Rubin stated that they were working on expanding services to an even bigger population. He added that the company was working on mobile testing and primary care to help communities slow down the spread of coronavirus, and reopen the economy.

Earlier in March, the company announced that it was collaborating with Ascension Texas to connect primary and specialty care. Through the collaboration, One Medical would launch in Austin in the next year and will integrate digitally with Ascension Texas providers and sites of care. The company announced that the goal would be to get better coordination in primary and specialty care and cut down on operational costs.

Looking at its price action, ONEM is in a rebound after a recent price correction. In yesterday’s session, it opened at $18.99 and traded between a low of $18.59 and a high of $21.09, before closing at $20.55. Volumes in the day stood at 834.76k.

About 1Life Healthcare Inc

1Life Healthcare Inc is a membership primary care company. It is based in San Francisco, California.