Hey there,
For starters, it doesn't really have anything to do with how it is performing operationally. There has been little to no news as of late, so I think that the company is just a victim of overall market sentiment. Keep in mind, TOI is up 21% year to date, outpacing the broader index quite significantly. It was also getting up there in terms of valuation, so a bit of a pullback is healthy.
Given all the uncertainty, it's likely we are seeing some profit-taking here. TOI is much like CSU in the fact that they don't have quarterly conference calls and provide little insights into their strategy. It is a bet on management to deliver their strategy and thus far, TOI's management team has done an excellent job.
Overall, nothing from an operating perspective that would lead us to be concerned.
Mat