Why DocuSign Stock Got Pummeled Today

In a serious bear market, even the slightest whiffs of bad news from companies can really put the hurt on their share prices. That was the dynamic at play Monday with onetime investor darling DocuSign (NASDAQ: DOCU). The online document security specialist took a nearly 8% hit to its share price on some not particularly worrying news on the personnel front.

Just after market hours on Friday, DocuSign revealed in a regulatory filing that Trâm Phi, its general counsel and a senior vice president, had resigned from both positions. Her move is effective this Friday, May 13. The company wrote that this was "a personal decision to pursue other interests and was not the result of any disagreement with the Company." It didn't specify what those other interests might be.

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Source Fool.com