DoorDash completed its IPO successfully
DoorDash - the latest initial public offering that hit the markets turned out to be a success.
On its stock market debut, DoorDash jumped 85% over its initial IPO price after it opened at $182/ share, exceeding the company's valuation reach approximately $70 billion. Initially, DoorDash had priced its IPO at $102 a share.
During the past months, DoorDash thrived despite the pandemic as more and more people opted to have their food delivered. Still, the company acknowledged that "the circumstances that have accelerated the growth of our business stemming from the effects of the Covid-19 pandemic may not continue in the future."
One IPO is over, and another one awaits, as Airbnb is expected to go public later on today.
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Sources: edition.cnn.com, finance.yahoo.com