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DoorDash’s IPO Delivers as Shares Soar in Market Debut

Published by

December 5, 2024
(GMT+2)

DoorDash Inc delivered for investors, soaring 86% in its stock-market debut on Wednesday.The seven-year-old corporation ended its initial trading day valued at roughly $71.8 billion, higher than many of the restaurant companies that rely on its couriers. DoorDash’s shares opened Wednesday afternoon at $182 each on the New York Stock Exchange, 78% over its higher-than-anticipated initial public offering price.The stock ended trading at $189.51, giving it a market value-on a completely diluted share count-that exceeds the combined worth of Chipotle Mexican Grill Inc., Domino’s Pizza Inc. and Dunkin’ Brands Group Inc.The San-Francisco-based company has never turned a yearly revenue, but a rise in demand during the coronavirus pandemic has assisted in transforming it.

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