Why Shares of Doximity Dropped 12.4% in October
Shares of Doximity (NYSE: DOCS), a digital platform for healthcare professionals, fell 12.4% in October, according to data from S&P Global Intelligence. The stock ended September at $30.22.
Doximity opened October at $30.40, falling to a monthly low of $24.15 on Oct. 24. It ended October at $26.47 a share. So far this year, the stock is down more than 52%. It has a 52-week low of $23.62 and a 52-week high of $76.88.
Doxmity had no big news during the month, but digital advertising in general took a big hit in October, and investors noticed. Much of Doximity's revenue comes from advertisers who are looking to reach medical professionals, a key demographic.
Source Fool.com
