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Why DocuSign Stock Popped This Morning

TheMotleyFool

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Why DocuSign Stock Popped This Morning: https://g.foolcdn.com/editorial/images/702753/serious-thoughtful-person-laptop-home-setting.jpg

Shares of e-signature company DocuSign (NASDAQ: DOCU) popped on Wednesday after the company announced a plan to restructure its business. As of 10:30 a.m. ET, DocuSign stock was up almost 5%.

According to a filing with the Securities and Exchange Commission (SEC) this morning, DocuSign is restructuring its business by laying off about 9% of its workers. This move is expected to cost between $30 million and $40 million before savings kick in. And it's expected to be completed by the end of this fiscal year.

Investors appear encouraged that DocuSign is focusing on its operating margins. And that's why the stock is up today.

Source Fool.com

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