Doordash shares fell on Thursday. Previously, shorting firm citron research thought that doordash’s IPO (initial public offering) was the “most ridiculous” IPO this year, and the value of doordash was only a small part of its current market value. According to the research report, doordash’s direct competitors, including grubhub, Uber, and the recently acquired postmate, typically have valuations of three to six times sales. However, doordash is trading at 19 times earnings. However, accounting standards may vary from company to company. < p > < p > Xiang Chuang believes that due to the fierce competition in the takeaway market, the lack of brand loyalty of users, and the potential government regulation, the value of doordash should be $40 per share. That’s 74% below Thursday’s close. < / P > < p > since listing last week, doordash’s share price is up 51%. On Thursday, the company’s shares fell 2.4 percent to $154.21. Doordash declined to comment. < / P > < p > doordash is one of the most anticipated IPOs in 2020. Recently, a number of well-known start-ups have been listed. In June, private market investors valued doordash at $16 billion. At the time of trading on December 9, doordash had a fully diluted value of more than $68 billion. < p > < p > doordash is the largest takeaway app in the United States, but it faces fierce competition, especially from Uber and grubhub. Uber tried to buy grubhub this year, but NV stepped in. Uber eventually acquired postmate. < / P > < p > at present, doordash is focusing on other delivery services besides meal delivery. This spring, doordash began to deliver toilet paper and other convenience store products, thus launching a more direct competition with giants such as Amazon. Privacy Policy