![]() ![]() DoorDash, which trades at about 9x 2021 revenues and has yet to turn profitable, has likely been impacted by this shift. For example, investors are likely rotating out of richly valued pandemic winners into value stock as the Federal Reserve plans multiple rate hikes through 2022 to combat surging inflation. So what’s driving the current sell-off? Although the fundamental picture hasn’t changed too much for DoorDash stock, with the company posting better than expected revenue growth over the most recent quarter, we think the stock is being impacted by some technical factors. (Photo illustration by Beata Zawrzel/NurPhoto via Getty Images) NurPhoto via Getty ImagesĭoorDash stock (NYSE: DASH) has declined by about 20% over the past month and remains down by over 45% from its early November highs. Numbers show that the Covid-19 pandemic resulted in a significant increase of meals ordered online through food delivery apps and websites. DoorDash app logo is displayed on a mobile phone screen photographed for illustration on a plate and.
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