Ever since Doximity (NYSE: DOCS) went public in June 2021, the stock has been commanding a significant premium. Unsurprisingly, as investors have become more focused on valuations and earnings multiples, shares of Doximity have been falling in value and are down 38% year to date. Investors may be wondering if this has created a buying opportunity for a business that still sees plenty of growth in its future.
Motley Fool contributor Nicholas Rossolillo joins the channel to share why he owns Doximity (NYSE: DOCS) stock. Healthcare is a lucrative industry, and Doximity aims to help provide large corporations with phenomenal returns on their investments in advertising.
A topsy-turvy stock market isn't going to knock these growth stocks off of their upward-sloping paths forward.