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Medifast Down 9% After Signing Partnership With LifeMD For Weight Mgmt Solution

December 13, 2023 — 10:20 am EST

Written by RTTNews.com for RTTNews->

(RTTNews) - Medifast, Inc. (MED) shares are sliding more than 9 percent on Wednesday morning trade after the company agreed to partner with LifeMD for weight management solutions. As per the agreement, LifeMD will offer its patients an independent OPTAVIA Coach and other lifestyle support services.

Further, Medifast has invested $20 million into LifeMD.

Currently, MED shares are down 9.28 percent at $68.41, from its previous close of $75.41 on a volume of 133,088.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
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