DOCU - Why Remote Work Stocks Fell Today
Shares of many remote work companies, many of which have soared so far this year due to the COVID-19 pandemic, have fallen today. While coronavirus cases continue to rise in the U.S., which will likely perpetuate work-from-home policies at many companies, investors may be questioning some of the lofty valuations following substantial gains over the past several months. As of 1:30 p.m. EDT, here's how these prominent remote work stocks were trading:
There isn't much company-specific news, but many momentum stocks that have soared recently are experiencing selling pressure. It's quite possible that investors are taking profits off the table amid market volatility.