DoorDash makes trading debut 78% above IPO price
- Date: 09-Dec-2020
- Source: Business Insider
- Sector:Financial Markets
- Country:Middle East
DoorDash makes trading debut 78% above IPO price
Michael M. Santiago/Getty Images
DoorDash commenced public trading on Wednesday, opening at $182, which was 78% above its initial public offering price.The food-delivery company raised roughly $3.4 billion with its initial public offering after pricing shares at $102 each on Tuesday.The IPO kicks off a slew of debuts slated for December, including offerings from Airbnb and Wish-parent ContextLogic.DoorDash trades on the New York Stock Exchange under the ticker "DASH."Watch DoorDash trade live here.
DoorDash commenced public trading on Wednesday, opening at $182, which was 78% above its initial public offering price. The stock is listed on the New York Stock Exchange.
The food-delivery company raised roughly $3.4 billion in its initial public offering, selling shares at $102 each. The final pricing exceeded its previously expected range of $90 to $95 per share, and gave DoorDash a valuation of roughly $34.2 billion. That sum handily surpasses the $15 billion valuation it achieved in the private market earlier this year.
DoorDash's IPO marks one of the year's biggest offerings and caps a historic year for public debuts. US listings already raised a record $156 billion in 2020, according to Bloomberg data. Airbnb and Wish-parent ContextLogic are still poised to enter the market this month, with