Newly Listed DASH Drops on Downgrade

The stock started trading this past Wednesday

Deputy Editor
Dec 14, 2020 at 2:00 PM
facebook X logo 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. 

 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI