What Happened?
A number of stocks jumped in the afternoon session after investors wagered geopolitical tension would be contained following the U.S. military's operation in Venezuela, with the Dow hitting a fresh record.
Sentiment remained firmly "risk-on" for early 2026, with Wall Street prioritizing domestic economic strength over foreign turbulence. Analysts noted that while the event raises short-term supply questions, the market largely viewed the potential stabilization of Venezuela's vast oil reserves as a long-term economic positive. Also, investor attention turned to the annual CES 2026 technology conference in Las Vegas, with artificial intelligence emerging as a central theme.
Attention shifted to tech giants like Nvidia and AMD, whose CEOs were headlining the event. This focus continued the AI-fuelled momentum that drove market gains the previous year. The rally had global reach, with an MSCI Asia Pacific Index surge being driven by heavyweight chip names like Samsung and Taiwan Semiconductor Manufacturing Company. The event reinforced investor confidence in the long-term demand for the booming AI and chipmaking trend, boosting shares of companies across the semiconductor and technology space.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Data Storage company MongoDB (NASDAQ: MDB) jumped 5.1%. Is now the time to buy MongoDB? Access our full analysis report here, it’s free for active Edge members.
- Healthcare And Life Sciences Software company Doximity (NYSE: DOCS) jumped 6%. Is now the time to buy Doximity? Access our full analysis report here, it’s free for active Edge members.
- Advertising Software company DoubleVerify (NYSE: DV) jumped 3.8%. Is now the time to buy DoubleVerify? Access our full analysis report here, it’s free for active Edge members.
- Video Conferencing company 8x8 (NASDAQ: EGHT) jumped 3.1%. Is now the time to buy 8x8? Access our full analysis report here, it’s free for active Edge members.
Zooming In On Doximity (DOCS)
Doximity’s shares are very volatile and have had 23 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 14 days ago when the stock gained 3.3% on the news that the stock's positive momentum continued as a Bank of America analyst reiterated a Buy rating and an $82 price target on the stock.
The analyst noted accelerating growth within healthcare provider budgets and that Doximity was also raising its spending on advertising to these providers. The price target suggested a potential 88% upside from the stock's trading range at the time of the report. Adding to the positive sentiment, the company also launched PeerCheck, a new physician-led model designed for the clinical review of medical AI tools.
Doximity is up 6.9% since the beginning of the year, but at $46.28 per share, it is still trading 44.3% below its 52-week high of $83.14 from February 2025. Investors who bought $1,000 worth of Doximity’s shares at the IPO in June 2021 would now be looking at an investment worth $873.11.
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