DoorDash surge makes the delivery company more valuable than many of the franchises it delivers for
With the Dash Biker
With the Dash
- DoorDash’s 86% surge on Wednesday’s first day of trading lifted the delivery company’s valuation to $ 72 billion.
- This rating makes DoorDash more valuable than many of the companies it supplies to, including Chipotle, Taco Bell, KFC, and Pizza Hut combined.
- The delivery company is now worth even more than all but two long-haul rail delivery companies, and just 7% off the displacement of FedEx.
- See the DoorDash trade live here.
DoorDash, the last mile delivery company that made a strong IPO debut on Wednesday, is now worth more than many of the companies it makes deliveries for.
On Wednesday, DoorDash rose 86% on its first day of trading, boosting its market valuation to $ 72 billion.
That surge makes DoorDash more valuable than Chipotle, Taco Bell, KFC, and Pizza Hut combined.
Chipotle has a market valuation of $ 38 billion, while Yum Brands, the parent company of Taco Bell, KFC and Pizza Hut, has a market valuation of $ 32 billion.
Other popular fast food companies that DoorDash delivers to and whose market valuation has been surpassed include Domino’s, Burger King, and Wendy’s.
Continue reading: Morgan Stanley warns that as the stock market recovers, trading may soon be over. Here are 4 strategies they recommend for finding the returns that are still there.
According to DoorDash, tacos, burritos, pizza, and sushi are among the top 10 foods the company shipped in 2020.
DoorDash’s market valuation also competes with another group of established delivery companies that focus on long distance overland deliveries: railways.
Since the close of trading on Wednesday, DoorDash has now been more valuable than all but two publicly traded railroad companies. The company’s $ 72 billion valuation surpassed CSX Corporation’s $ 69 billion valuation and Norfolk Southern Corporation’s $ 60 billion valuation.
The next delivery company DoorDash is close to outperforming market value? FedEx. A 7% increase from Wednesday’s close would cause DoorDash to overtake FedEx’s current market valuation of $ 77 billion.
In the first nine months of 2020, DoorDash had sales of $ 1.9 billion and is not yet profitable, while FedEx had sales of $ 54 billion and profits of $ 1.2 billion over the same period scored.
Continue reading: We spoke to the top five European fund managers of 2020 to identify their tips and tools for generating great returns and their top stock picks for 2021