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Why Shares of Doximity Dropped 12.4% in October

TheMotleyFool

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Why Shares of Doximity Dropped 12.4% in OctoberPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

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

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