Why MercadoLibre, Coupang, and DoorDash Plunged This Week
Shares of MercadoLibre (NASDAQ: MELI), Coupang (NYSE: CPNG), and DoorDash (NYSE: DASH) all fell hard this week, with these stocks down 14.2%, 12.7%, and 7.8%, respectively, through the end of trading on Thursday.
There wasn't any significant company-specific news for any of these three names, yet their stocks saw intense selling pressure as high-growth but low- or no-profit tech companies continued to struggle. Ironically, this week's positive news on omicron and U.S. payrolls was likely a negative for these stocks, which cater to the stay-at-home economy.
Image source: Getty Images.
Source Fool.com
