DOCU - Down 73% in 3 Years Can DocuSign Stock Make a Comeback in 2024?
2024-02-01 05:00:00 ET
Many stocks have seen this same pattern: They soared in the early stages of the pandemic only to end up crashing in 2022.
DocuSign (NASDAQ: DOCU) is one such example. It was a hot growth stock in 2020 when pandemic-related restrictions meant companies relied on digital document solutions to continue doing business.
The stock more than tripled from its pre-COVID levels by 2021, but the optimism didn't last. After peaking at just over $310 per share, DocuSign saw a steep, steady decline. In the past three years, the stock is down 73%, but in recent months, it has been picking up steam once again. Is there reason to believe the stock could turn things around this year?
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Down 73% in 3 Years, Can DocuSign Stock Make a Comeback in 2024?