Investing
DoorDash Is Surging After its IPO. Should You Buy the Stock?
The delivery startup almost doubled from its IPO price after raising $3.37 billion. But does it belong in your portfolio?
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Supercharged by the pandemic-fueled boom in takeaway, the biggest food delivery operation in the U.S. made its trading debut with a bang on the New York Stock Exchange Wednesday.
DoorDash sold 33 million shares Tuesday for $102 each after marketing them for $90 to $95. That valued the company at around $38 billion. The stock opened at $182 after the delivery startup raised $3.37 billion in of the biggest tech initial public offerings of the year.