Why DoorDash Stock Spiked Higher Today

Shares of DoorDash (NYSE: DASH) spiked higher on Tuesday, possibly because it's gaining attention from institutional investors. As of 2 p.m. EST, the stock was up 8%.

Tiger Global Management is an institutional investment manager, and the Securities and Exchange Commission (SEC) requires these entities to release their holdings every quarter. Among the holdings released today, Tiger Global revealed that it had purchased 1,596,000 shares of DoorDash. Keep in mind that it didn't own any last quarter, but that's because DoorDash only went public in December.

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Source Fool.com