Since the beginning of April, the NASDAQ 100 has taken dives up to 6%, threatening the 44% gains that investors made over the past 12 months. Those dips are only for companies included in the benchmark. Many mid- to small-cap stocks have taken larger dives. Luckily, such sell-offs can provide rare opportunities to buy great companies for cheap. 

Two of these companies, Ayr Wellness (AYRW.F 5.05%) and Teladoc Health (TDOC -2.75%), are down about 22% and 52%, respectively, from their all-time highs in February. Let's look at why the premium cannabis operator and the telemedicine giant are both screaming buys today. 

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1. Ayr Wellness

Ayr Wellness operates the second-biggest dispensary chain in Florida. It currently has 35 stores and an additional seven planned to open by the end of the year. That puts it just behind Trulieve Cannabis' 79 locations in the Sunshine State. 

The company's flowers, concentrates, vapes, tinctures, topicals, and edibles have proven to be wildly popular with consumers. According to fourth-quarter 2020 reports, the pot grower is brining in $280 million in revenue and $99 million in operating income less noncash items (EBITDA) on an annual basis. These are both significant improvements over the $124.2 million in revenue and $34.5 million in EBITDA it generated total during 2019.

The company plans to have 60-plus total dispensaries by year's end across seven states. These include major recreational cannabis markets such as Nevada, Arizona, and Massachusetts. On top of that, it recently expanded into New Jersey's brand new adult-use sector with a $101 million acquisition of three dispensaries, each strategically located near a major highway. 

Despite its promise and proven results, Ayr Wellness stock is trading for about seven times EBITDA, well below the industry average of 14 times EBITDA. Investors who buy now will be getting both a solid margin of safety and a great valuation for its growth. 

2. Teladoc Health 

Teladoc Health is a virtual care company like no other. Traditional primary physician consultations aside, the company also specializes in managing chronic illnesses and behavioral health. During the first quarter of 2021, more than 658,000 patients enrolled in one of Teladoc's chronic care services, tripling over Q1 2020. 

The company began offering mental health services in October 2020. The results have been spectacular. In areas where patients sometimes wait three to nine months to see a psychiatric professional, Teladoc has replaced that with instantaneous, 24/7 support. Due to its superb services, Teladoc's revenue increased by 151% year over year to $453.7 million. Its total visits more than doubled to 4.28 million in the same period.

Teladoc expects to generate $2 billion in sales this year, a stunning increase over the $1.09 billion in revenue it had in 2020. What's more, it is guiding for its EBITDA to surpass $265 million, compared to an EBITDA of $126.8 million in 2020.

Recently, Teladoc stock has taken some heat for the company's lack of integration with employers' existing health plans. Despite the setback, I believe Teladoc can make that jump in a short time. It reinvests 17% of its sales back into research and development, which is reason to believe that it will be in line with the latest industry trends and employer needs.

Investors should be relieved to hear that for all its momentum, the stock is affordable at 11 times revenue, far from the 24 times sales it was trading for just a few months ago. In a recent survey, 53% of Americans indicate that they would continue to utilize telemedicine instead of a doctor's office even after the COVID-19 pandemic subsidies. For all these reasons, Teladoc is a hot telehealth stock you don't want to miss on the dip.