Doximity Stock: Bull vs. Bear
Shares of Doximity (NYSE: DOCS) skyrocketed in the first few months after the company's initial public offering in June 2021. That sizzling momentum didn't last long, though. By mid-September, Doximity stock began to fall. And fall. And fall even more. The online networking platform for medical professionals went on to lose roughly two-thirds of its market cap.
After this steep decline, it's inevitable that some investors might wonder whether or not the stock is due for a major rebound. There are different views on how to answer that question. Here are the bull and bear arguments for Doximity stock.
Probably the best reason to buy Doximity stock now is that the company has a tremendous growth opportunity ahead. Management estimates that its total addressable market in the U.S. stands at $18.5 billion right now. Roughly $7.3 billion of that potential market is tied to Doximity's current primary revenue source -- drugmakers marketing to healthcare professionals. Another $6.9 billion is in healthcare systems marketing to and recruiting healthcare professionals. Doximity thinks there's an additional $4.3 billion opportunity in telehealth.
Source Fool.com
