Healthcare networking platform Doximity (NYSE: DOCS) went public in late 2021. The stock nearly doubled just months later, but has since cooled off in this bear market. The stock is down 68% from its high, more than giving back those quick post-IPO gains. Is the stock destined to rebound or was it just another bad investment that a euphoric Wall Street propped up in 2021?
Doximity allows healthcare professionals to network, educate themselves, and communicate with patients, providing clarity in a notoriously complex industry. But there are some question marks about the stock's long-term investment potential. Consider these key observations before deciding whether Doximity belongs in your portfolio.
Doximity calls itself "the digital platform for doctors." It's free for physicians to join. Doximity generates revenue on subscriptions it charges to pharmaceutical and healthcare system companies that pay to advertise or access the user base for hiring.
Source Fool.com