In what will likely go down as one of Wall Street’s biggest tantrums of the year, the single-day 40% implosion in shares of DocuSign Friday suggests something cataclysmic had happened — as if the era of digital documentation had somehow suddenly been disrupted or become obsolete.
How else could one characterize the instantaneous evaporation of roughly $20 billion in market value from a profitable, growing 20-year old business that dominates its category?