Why Doximity Stock Soared Nearly 8% Today

Shares of Doximity (NYSE: DOCS) were up 7.7% as of market close on Monday. The professional medical social network and telemedicine company didn't issue any news today that caused the spike in share price. This seems more likely a continuation of the bullish investor feelings on the company after it reported stellar quarterly earnings in February.

Additionally, healthcare stocks in general have been exhibiting relative outperformance of market averages amid Russia's ongoing invasion of Ukraine. The S&P 500 healthcare sector was down only 1.7%, while the S&P 500 index overall was down 3% on the day. Healthcare is often viewed as a defensive investment.

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Source Fool.com