DoorDash Shares Plunge Following Disappointing Earnings and Ambitious Tech Investment

Food delivery service DoorDash is facing its most severe market downturn in company history, driven by a disappointing quarterly performance and substantial new investments in autonomous delivery technology that have unsettled investors.

The company’s stock plummeted 17% during Thursday’s trading session, marking its most significant single-day decline on record. This extends a seven-day losing streak that has erased 22.7% of the company’s market value since third-quarter results were released. Early indications pointed toward a difficult day, with pre-market trading showing shares down 9.8%.

DoorDash’s quarterly report presented a mixed financial picture. While revenue climbed 27.3% to $3.45 billion, exceeding market expectations, earnings per share of $0.55 fell substantially short of the Read more...