Shares of DoorDash, Inc. (DASH) are trading -6% lower at a price of $73.07 at the time of this writing.
Perhaps it's related to New York-based Lunchbox, a food tech company that offers an online ordering system to restaurants, which announced employee layoffs on Thursday, according to Business Insider. The terminations represent a 33% cut and were across all divisions, including engineering.
DoorDash, Inc. has been trading between a 52-week high of $257.25 and a 52-week low of $56.67. The stock has a market cap of $23.2 Billion.
DoorDash is a technology company that connects customers with their favorite local and national businesses in more than 4,000 cities and all 50 states across the United States, Canada, and Australia. Founded in 2013, DoorDash empowers merchants to grow their businesses by offering on-demand delivery, data-driven insights, and better in-store efficiency, providing delightful experiences from door to door. By building the last-mile delivery infrastructure for local cities, DoorDash is bringing communities closer, one doorstep at a time.
Headlines
Domino''s earnings miss expectations as pizza chain struggles with driver shortage, higher costs
Kwhen Finance 07-21-22
Growth Cools at Once-Hot Food-Delivery Apps Uber Eats and DoorDash
The Wall Street Journal 07-20-22
DoorDash couriers will need to scan a customer’s ID before delivering alcohol | Engadget
Newslanes 07-20-22
Now DoorDash will double-check IDs when it’s delivering alcohol
The Verge 07-20-22
DoorDash introduces dual ID verification for alcohol deliveries
TechCrunch 07-20-22
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:devereaux - 5 upvotes -
sourceShorting DASH is some of the easiest money in the market
wtfplane - 5 upvotes -
sourceHow many lives have been saved by door dash and Uber
theineffablebob - 3 upvotes -
sourceDASH going back to all time highs.
SmokeScreening - 2 upvotes -
sourceMiddle dash gang reporting in. That way you can glance at it and it just looks like you are looking at the infotainment screen
carpitown - 2 upvotes -
sourceI tried Puts against DASH back in May. The market reversed on me. Looking to make my money back
ByahhByahh - 2 upvotes -
sourceMy Doordash driver's name is displaying "NoLimit" and they are driving up and down every street near me. Puts on DASH. Calls on oil.
bruh123ok - 2 upvotes -
sourcemy dash puts are getting fucking destroyed
I_am_not_a_murderer - 1 upvotes -
sourcewhats up with DASH
devereaux - 1 upvotes -
sourceI've been shorting DASH since the days of $200-250/share. It's one of the the biggest pieces of garbage in the entire market, and there isn't a single cogent bull case out there for them. Good for their founders though, I suppose, paying themselves incredible amounts of money
NumerousAd7185 - 1 upvotes -
sourceSame. I had a fuckton of puts on DASH, DOCU etc. All expired worthless in January…