By Brian M. Reiser DoorDash (NYSE: DASH) just launched its initial public offering (IPO) yesterday and began trading at $182 on the New York Stock Exchange. While it had been priced at $102 on Tuesday night, the stock closed its first day of trading at $189.51 for a gain of over 85%.
Investors clamored for a stock that has, unlike many companies, actually benefited from the effects of COVID-19 and the resulting restrictions on public spaces and stay-at-home orders issued.
Though there are some future risks for DoorDash, the IPO reveals that investors are highly optimistic about the company’s viability in the food delivery service business. …read more
