On January 10, 2024, before the market opened, Fuzzy Panda Research released a report entitled “DocGo – Allegations of Fraudulent Billing Practices & Forging of Documents.” Fuzzy Panda stated that “through former employee interviews and never before seen lawsuits we discovered serious allegations that DocGo (DCGO) has allegedly been committing Medicare fraud and having employees forge signatures on medical documents.”
On this news, DocGo’s stock fell $1.80 per share, or 37%, to close at $2.99 per share on January 10, 2024.