DocuSign Joins the Nasdaq-100. Does That Make It a Buy?
Many companies are flailing just now, struggling to keep afloat during the coronavirus pandemic. DocuSign (NASDAQ: DOCU) is not one of them. It's been a fundamental star and a stock market standout because its core e-signature solutions are entirely digital and thus basically pandemic-proof. Combine that with a world that keeps adding to the volume of important documentation online, and you've got a winning stock.
And lately you've got a Nasdaq-100 stock, too. Last month, Nasdaq (NASDAQ: NDAQ) tapped DocuSign for the index, taking the slot held by United Airlines. The Nasdaq-100 is the signature (sorry!) large-cap stock index composed of the exchange's more prominent listed companies. Therefore, DocuSign has vaulted to the top of the Nasdaq pyramid; let's see if joining the top-shelf index alone makes the company a buy.
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Source Fool.com
