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DoorDash Delivered More Than Food and Groceries in the Latest Quarter, but Here's Why Its Stock Sank
DASHDoorDash(DASH) The Motley Fool·2024-05-08 11:07

America's favorite food delivery platform is sacrificing growth in search of profitability.DoorDash (DASH -1.73%) stock came public at the end of 2020 at 102pershare.Theinitialpublicoffering(IPO)wasperhapsslightlyopportunistic,consideringitsfooddeliverybusinesswasbenefitinggreatlyfrompandemic−eralockdownsandsocialrestrictions.Thecompanywasconsistentlydeliveringtriple−digit−percentagegrowthinitsrevenue,soit′snosurprisethestocksoaredtoanall−timehighof102 per share. The initial public offering (IPO) was perhaps slightly opportunistic, considering its food delivery business was benefiting greatly from pandemic-era lockdowns and social restrictions.The company was consistently delivering triple-digit-percentage growth in its revenue, so it's no surprise the stock soared to an all-time high of 246 in les ...