This Growth Stock Plunged 83%. Should Investors Buy, Sell, or Hold?
Pandemic-era social restrictions are mostly in the rearview mirror and, quite frankly, it feels like they were imposed a lifetime ago. People tend to move forward quickly, but the financial markets are still dealing with the fallout from price distortions caused by COVID-19. Specifically, investors are trying to determine the appropriate levels at which to price certain technology companies that thrived under lockdowns and work-from-home orders but are now adapting to an environment without them.
DocuSign (NASDAQ: DOCU) is a quintessential example. While management has done a great job pivoting the business to continue growing, it's doing so at a slower pace than in 2020 and 2021. Combined with the broader sell-off in the tech sector, DocuSign stock has plunged 83% from its all-time high.
But the company did deliver one surprise in the fiscal 2023 fourth quarter (ended Jan. 31) relating to its bottom line. So should investors buy, sell, or hold DocuSign stock? Let's find out.
Source Fool.com
