Why Doximity Stock Plummeted 26% in December
Shares of doctor-focused social networking company Doximity (NASDAQ: DOCS) plunged 26% in December, according to data provided by S&P Global Market Intelligence. There wasn't any specific news this month leading to the decline, but it follows months of a price decrease as the stock ballooned after its initial public offering (IPO) in June and its valuation skyrocketed. The price has continued falling into January.
Doximity operates a digital networking platform for physicians. It allows doctors and other healthcare practitioners to connect through a mobile device to other healthcare workers and to patients. It has already made its mark on U.S. medicine, with 80% of doctors already registered, and 50% of nurse practitioners and physician's assistants as members, according to the company.
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Source Fool.com
