![]() See our analysis DoorDash Stock Chance of Rise for more details. So is DASH stock likely to rise further in the coming weeks and months or is a correction looking more likely? Per the Trefis machine learning engine which analyzes historical stock price movements, DASH stock only has a 46% chance of a rise over the next month (21 trading days). is poised to cool off with Covid-19 restrictions being eased. The deal could help to speed up DoorDash’s international expansion and drive revenue growth as broader delivery volumes growth in the U.S. The gains are driven largely by DoorDash’s announcement that it would be acquiring international food delivery platform Wolt - which has operations in 23 countries - in an $8.1 billion all-stock deal. The stock also remains up by about 8% over the last month, compared to the S&P 500, which was up 7% over the same period. ![]() have averaged about 127,000 as of last week, up from levels of around 70,000 in late November, driven by the spread of the apparently more infectious Omicron variant of the novel coronavirus.ĭoorDash stock (NYSE: DASH) has gained about 4% over the last week, outperforming the S&P 500 which remained roughly flat over the same period. ![]() Moreover, the broader markets have also been weighed down by the recent rise in Covid-19 cases. For perspective, DoorDash trades at about 10x projected 2021 revenues. This is likely causing investors to reduce exposure to high-growth, high multiple stocks such as DoorDash which were big winners earlier in the pandemic and through the ultra-low interest rate era. Federal Reserve officials have hinted that we could see as many as three rate hikes coming in 2022, as inflation in the U.S. So what’s driving the current sell-off? The U.S. (Photo illustration by Beata Zawrzel/NurPhoto via Getty Images) NurPhoto via Getty ImagesĭoorDash stock (NYSE: DASH) has declined by about 5% over the past week and remains down by almost 40% 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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