Hey there,
I own CloudMD as well and it has been a very frustrating year for the company. Worth noting, its not just DOC but all stocks within the virtual health care industry. WELL, CARE, JNH, CBT, etc - the list goes on. Most all are down by at least 50% from the highs. We have effectively seen a value reset across the industry as a return to 'normal' becomes a reality, the markets are no longer viewing these stocks as high growth. But that is short-sighted.
In DOC's case, they continue to execute well and are still expected to grow at a a triple digit clip next year. It is now trading below book value and only 0.7 times forward sales. In my opinion, the sell off is overdone and since I can afford to wait, I am not selling and holding. There is nothing that fundamentally changes the investment thesis from the company.
Of note, some of the recent negative pressure may be do to the departure of their CFO for "personal reasons." It may be nothing but there have been cases where it has been 'something' but that usually only comes out later. I'm not really worried given the positive words spoken spoken about the CFO and the tone of the press release, but I think this has something to do with the latest dip. I'm keeping an eye on it, but don't see a need to sell out here at these cheap valuations unless something material changes.
Mat