- DASH stock has given a huge gap of 10% in the last trading session.
- DoorDash Inc. has shown growth in its revenue over the years.
DoorDash Inc. generally engages in the development and operation of food delivery and logistics platforms. The current CEO of the company is Tony Xu and it has its headquarters in San Fransisco. The company has 16.8K employees working for it and the company was founded in the year 2013.
The ROE of DoorDash Inc. is negative resulting in -19.17% and the ROA of the company is -13.23%. The operating margin of the company is -9.89% which is considered neutral for the company.
The current ratio of DASH stock is 1.69 which denotes that the company is capable enough to repay its debt. DoorDash Inc. has an operating cycle of 30.61 days. The DASH stock has a market cap of $34.528B followed by 261.246M shares floating in the market.
DoorDash Inc. Stock Performance Analysis
DoorDash Inc. has reported its Q3 2023 financials recently resulting in an advance of 60.3% in the market cap of the stock. The gross margin for the company has also advanced resulting in 40.7%.
Will DASH Stock Continue To Advance To Higher Levels In The Upcoming Days?
After losing its value by more than 80% from the all-time high levels the DASH stock is trying to recover from the lower levels. Following this, the DASH share has been making higher levels leading to the formation of a rising wedge pattern.
Inside the rising wedge, the stock formed a falling wedge pattern in the smaller time and has broken out above it. This shows the presence of buyers in the market and indicates that the stock price might advance to higher levels.
The DASH stock is trading above the 50-day and the 200-day EMA following a golden cross. The RSI on the daily chart of the DASH stock has also advanced above the 50 level. This indicates bullish momentum in the stock.
Conclusion
The revenue for the company is consistently advancing despite the negative income of the company. On the daily technical chart, the share price is still trading inside the rising wedge but is showing the potential of hitting the upper bands.
Technical Levels
- Support levels- $51.80 and $70.30
- Resistance levels- $128.00 and $148.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.