Newly Listed DASH Drops on Downgrade

The stock started trading this past Wednesday

Deputy Editor
Dec 14, 2020 at 2:00 PM
facebook twitter linkedin


DoorDash Inc (NYSE:DASH), which started trading just this past Wednesday, is struggling to maintain positive price action in just its fourth trading session. At last check, DASH was down 11.8% at $154.35, after D.A. Davidson downgraded the stock to "neutral" from "buy," while also raising its price target to $150 from $93. The firm sees "little room" for performance hiccups due its current valuation, especially with the increasing regulations, and notes the stiff competition in the food delivery business. Meanwhile, the company also announced a new partnership with Payfare -- creating the DasherDirect platform -- which offers a prepaid Visa card to drivers. 

After an initial public offering (IPO) price of $102, the stock soared all the way to $195.50 within its first day of trading -- its current record high. Steadily moving lower each day since, today's negative price action has DASH placed on the "short sell" list. 

Coming into today, two of the three analysts in coverage already sport a "hold" rating on DASH, leaving plenty of room for upgrades or fresh brokerage coverage in the future. Meanwhile, the 12-month consensus price-target of $150 is a 2% discount to current levels. 

 

 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1