Why DoorDash Stock Fell 12% in the First Hour Today
Shares of food delivery service DoorDash (NYSE: DASH) fell in early trading on Dec. 14, slipping just over 12% in the first hour. That adds to the losses the stock has seen each day following its Dec. 9 debut. But when you look at the big picture here, the slow trickle lower makes total sense.
DoorDash was a hotly anticipated IPO. When it priced on Dec. 8, the dollar figure attached to its stock was $102 per share. However, in its first day of trading it closed at just over $189 per share. In other words, in its first day on the New York Stock exchange, DoorDash rose a massive 85% or so.
Image source: Getty Images.
Source Fool.com