Can DoorDash Keep Delivering For Investors?
The pandemic has been a difficult period for so many industries, but it has been a boon for some. One sector that has thrived is food delivery. The widespread closure of restaurants and mass reduction in dine-in options have made food delivery and takeout as popular as ever. So-called "pandemic stocks" like DoorDash (NYSE: DASH) have grown substantially and played a supportive role for the restaurant industry during challenging times.
DoorDash was established in 2013, and like many tech companies, has its roots in Palo Alto, California. In December of 2020, DoorDash went public on the New York Stock Exchange at an initial price of $175 per share. The stock has traded mostly sideways throughout its first year as a public company and has only gained 16% since its IPO date.
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