DoorDash Signs Deal with Albertson’s and MicroStrategy Gets Dragged Down with Bitcoin
DoorDash is an online food ordering and food delivery platform; with a 56% market share, it is the largest food delivery company in the United States. It also has a 60% market share in the convenience delivery categoryRecently shares of DoorDash gained 3.55% due to an announced partnership with Albertsons for same-day grocery delivery across roughly 2,000 stores. “Leveraging our extensive logistics network and Albertsons’ wide selection of fresh groceries, we are creating a one-stop-shop for customers to access any of the essentials they need, delivered to their doorstep within an hour,” explained Fuad Hannon, head of new verticals at DoorDash.
DoorDash went public at $102 per share last December and hit a 52-week high of $256 in February.
MicroStrategy provides business intelligence, mobile software, and cloud-based services. The firm develops software to analyze internal and external data to make business decisions and to develop mobile apps.
The stock recently fell 9.7% in reaction to the price of Bitcoin falling below $32,000 for the first time since June 8. MicroStrategy not only already had tens of thousands of Bitcoins on its balance sheet, but bought 13,005 new units of Bitcoin yesterday, raising their total Bitcoin holdings over 100,000, worth more than $3 billion.
MicroStrategy only recently began to rebound from a months-long descent that began in April of this year.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.