DASH stock slides to trade at $52.32 as of 10:14 AM EDT
On Thursday, Canadian retailer Loblaw Companies and DoorDash ( NYSE:DASH ) announced a collaboration for on-demand grocery delivery.
As a result of the arrangement, the DoorDash Marketplace app will offer grocery delivery from about 1,100 Loblaw banner stores. More than 50,000 grocery and convenience items, including fresh and prepared foods, groceries, flowers, supplies for the drugstore, and convenience items, will be available from Loblaw’s locations for delivery via DoorDash.
Additionally, DoorDash ( NYSE:DASH ) will use its DoorDash Drive fulfillment technology to support same-day delivery through PC Express, Loblaw’s own app.
Is DASH Stock Trading Above Fair Value?
The market for restaurant delivery is worth $1 trillion, and the market for groceries is worth $2.5 trillion, according to the company’s 2021 annual report. In my projections, I expect that the market will grow at a pace that is marginally higher than inflation, and that DASH’s growth rate would continue to surpass that of the market overall because of the low penetration of online delivery.
The corporation will grow its market share from 1.5% in 2022 to 2.2% in 2026, according to projections. Nev...
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