Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why DoorDash Soared 13% Last Week

TheMotleyFool

0 0

Shares of DoorDash (NYSE: DASH) soared 12.9% last week on no particularly positive news for the third-party delivery app, but traders moved sharply into its stock because short interest on the stock surged 24% to 14.2 million shares, or 11% of its outstanding stock.

DoorDash isn't one of those so-called meme stocks that trade more based on what's said in internet chat rooms than on business fundamentals, but traders have kept a close eye on any stock with a high level of short interest, hoping to rally around its shares and cause a short squeeze.

Image source: DoorDash.

Source Fool.com

Like: 0

DASH

Share