DoorDash Is Buying Its Stock: Should Investors Buy Too?
DoorDash (NYSE: DASH) has been one of the surprising stories coming out of pandemic-induced lockdowns. Of course, sales and the number of customers surged during lockdowns, when restaurants were closed to in-person diners. But sales have remained elevated even as restaurants have reopened.
However, despite sustained customer orders, DoorDash is still losing money on the bottom line. That has been crucially punishing to its stock price, as the market has shunned unprofitable growth stocks. The stock is down 72% off its highs reached in late 2021. However, management thinks the selling is overdone and said the company would be buying back its stock.
Let's consider if investors should follow suit and buy DoorDash stock.
Source Fool.com
