Here’s a stock you should avoid

Article Excerpt

The plunge for tech/platform stocks since the start of this year has hit both high-growth stocks with strong prospects as well as others with weaker outlooks. You should remain wary of that last group despite any broker/media praise for their business models. Here’s an example of a stock to avoid: DOXIMITY INC., $32.21, (New York symbol DOCS; TSINetwork Rating: Extra Risk) (doximity.com; Shares o/s: 110.5 million; Market cap: $6.3 billion; No dividend) operates the Doximity Network, an online professional network for doctors. Founded in 2010, the San Francisco-based company’s “LinkedIn for doctors” platform is a cloud-based and lets medical professionals collaborate with their colleagues, securely coordinate patient care, conduct virtual patient visits, and stay up to date with the latest medical news and research. Doximity’s already-high market penetration among medical professionals and advertisers is a plus, but it is also a risk factor for investors. That’s because there are only so many doctors, so many pharmaceutical companies, and so many medical employers. To continue to show…