Having been a publicly traded corporation for two years, Doximity (NYSE: DOCS) -- an online networking platform for medical professionals -- hasn't delivered great returns in this period, far from it. Doximity's shares are down by 39% since 2023 started. Several things are weighing down on the company.
Worse yet, Enphase Energy (NASDAQ: ENPH), The Toro Company (NYSE: TTC), and Doximity (NYSE: DOCS) are down between 29% and 53% on the year. Posting a jaw-dropping total return north of 2,700% over the last five years -- even after its drop in 2023 -- Enphase and its semiconductor-based microinverters and batteries have been thriving amid the solar industry's boom. Converting energy at the individual solar module level, Enphase's microinverters are superior to solar systems using a string inverter system, which cannot account for partial shading of a solar panel layout as effectively.
Investors need to pay close attention to Doximity (DOCS) stock based on the movements in the options market lately.