We’re entering the post covid world where no one is ordering takeout anymore. Doordash was hyped on the assumption that our shift to takeout was long term. Yet that turned out to be nonsense as people only craved the real thing even more this summer once restrictions were eased. This will be the first post covid quarter they report on. Any covid bump was an illusion imo . You see this with rental housing in nyc which is back to pre covid levels and there are no available apartments anymore. You see it with restaurants that are always booked out for in person dining sometimes well in advance. You see it with travels and hotels and flights which are sold out. You see it with wedding rentals and stuff booked out till the end of next year. Finally the Uber driver shortage should also be playing out with dash. There just aren’t enough drivers anymore willing to do this kind of work in such a tight labor market. Do you guys think the DASH stock is set up for an epic level collapse right now with earnings come up?
Stopped reading after "no one is ordering takeout anymore"
Not the stakeholder but you should at least read the last earning report instead of guessing what will happen next. According to Q2 earning, DoorDash's more difficult challenge has been fulfilling the increasing demand from customers. The company is experiencing a shortage of drivers willing to make deliveries, and it may need to raise wages and incentives to attract more people. Remember, Markets are never wrong, only opinions are.
Q2 was before restrictions eased up
Markets can be wrong for years.
Earnings on November 9th. We’ll see then ;)
Time will tell after Nov.9
Sorry not trying to rub it in but what happened here. Was it because of omicron?
Doordash and its ilk overplayed their hand with their sneaky attempts at forcing and shaming customers into tipping more. I'd like to see them get their comeuppance.
We’ve see the same post like the OP every quarter after DD IPOed. How every quarter we are now in a post-COVID world and how our business will drop dead. Yet every quarter our business keeps growing. All I will say is wait for our Q3 financial next week. 😎
Hey OP, check our after hours activity now. 😎
Checked it now? 😂
Joining 11/15. Can’t wait to get my first RSU vest and see where the price goes
I was wondering what's your thoughts on the company now? With stocks hitting all time low week after week.
You are also forgetting about the increasing scrutiny across states and countries on this gig model which will add to cost, and reduce margins for companies like dash. They’ve been screwing the delivery drivers and getting away far too easy for a while now. We will see how this changes.
Their entire business model seems to be cutting driver pay to increase profits. Simply isn't sustainable. I'm in a HCOL area and even then, a good 60% of offers won't even break you above min wage- many of them I doubt you even profit on. They've done nothing but lower driver pay too. Stacking orders (second order has lower base pay), dropping base pay from 3 to 2 dollars. lowering peak pay. They've offloaded the added cost of restaurant labor shortages onto the drivers and regularly send orders extremely early resulting in a 5-15 minute (unpaid) wait. They often will not comp you for calling support for orders that cannot be completed. Their model evidently is just churning through new drivers who don't know how much they're REALLY making after tax/expenses, don't realize theyre driving without proper coverage while on the clock.
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Not just DASH but pretty much most of recent ipos or SPACs that don't generate profit are overvalued, other than maybe cloud sector. There's too much money laying out there in the market thanks to FED and that created bubbles for these stocks and cryptos