DoorDash IPO Puts Waitr on a Roller Coaster

Posted on December 10, 2020 by Florian Buschek

DoorDash DASH (disclosure: no position) has soared on the first day of the IPO to a $60 billion market cap. Having priced at $102 it quickly shot up to $180. This clearly looks like a bubble, but so be it. In contrast to DASH, our pick in this space Waitr Holdings WTRH (disclosure: long) is profitable and cheap on top. WTRH had a wild ride commensurate with the DASH IPO, peaking at $4.53 and closing around $3.80. The last high in August saw WTRH at $5.60 and the fundamentals are there to justify that easily. It is also a take out target for the likes of DASH. Roughly every $11 in the stock price of DASH is one full WTRH… and DASH has raised $3.37 billion dry powder. Watch this space.

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x