DoorDash, Inc. (DASH), a logistics platform that connects merchants, consumers, and dashers, has surged 19.79% in aftermarket trading session and consequently is trading at $230 at the time of the writing. The increase could be attributed to the announcement of DoorDash joining forces with Wolt. On Tuesday, DASH closed the day at $192.01 after declining 0.59% during regular trading hours.
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Why is DASH Stock Rising?
In late hours of Tuesday, DASH announced that the company and some of the stockholders of Wolt, a technology company that eases the discovery of the best local restaurants, have entered into a definitive agreement in which DoorDash would acquire the Wolt in an all-stock transaction. The companies share a mission to build a global platform for local commerce which ultimately connects consumers with their communities as well as provide meaningful earning opportunities to millions of dashers. Both the companies expected the partnership to accelerate their progress toward achieving the common goals.
Partnership With Ultra Beauty
On 2nd November, DASH announced to partner with Ultra Beauty, one of the largest beauty retailers internationally, to offer same-day delivery to the selected beauty stores in Atlanta, Boston, Chicago, Los Angeles, Houston and Boise. The company planned to expand the partnership in more broad horizons during 2022. Beauty lovers could find instant beauty gratification more easily through the aid of DoorDash Drive, the company’s white-label fulfilment platform.
Partnership With Dream Dinners
In late September, DASH announced that it is partnering with Dream Dinners, the pioneers of the meal kit concept. The partnership was aimed at making Dream Dinner’s family jot meals available on-demand for the first time. The local Dream Dinner kitchens are offering the DoorDash customers a box of three ready-to-cook medium meals as a result of the partnership.
Future Outlook for DASH
During the previous half-year, the DASH stock has surged more than 69%. The prime reason for that is the business expansion plans by the company, in the form of partnerships etc. Analysts are hopeful that the company is in a good position to build upon this momentum in future.