Dash to The Top 🥡

Dash to The Top

Over the course of the pandemic, speedy delivery of products, merchandise and food was one the ways the world kept on spinning. For DoorDash, this meant an extra $587 million in revenue for the first nine months of the year, compared to the year prior.

On Wednesday, shares of the food delivery app started trading on the New York Stock Exchange and began trading at a monster $182. On Tuesday night, shares were priced at just $102 per share which cements a close to 80% for the stock in its trading debut.

After closing the day up 85%, DoorDash’s market valuation was sitting at around $60.2 billion. Company shares are now trading at just over 16 times revenue. In contrast, Uber is trading at just under 8 times revenues.

As people turned to delivery services to get what they need, DoorDash’s bottom line improved from the year before but still, the company is not profitable as of today. In 2019, the company had a net loss of $533 million in the first 9 months of the year. This year, this net loss narrowed to just $149 million.

Will you be dashing to pick up some shares at this valuation?

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.

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