Why DoorDash Stock Is Trading Higher

Shares of DoorDash, Inc. DASH surged higher during Tuesday's after-hours session following the release of the company's third-quarter earnings results, which included a beat on sales with guidance.

The company had numerous achievements within the quarter, including a quarterly-end of 9 million DashPass members, as well as an increase in the percentage of monthly active users that engaged with a new vertical from 10% to 12%.

Additionally, DoorDash announced an $8 billion all-stock acquisition of Wolt Enterprises OY.

DoorDash believes a vast majority of consumers still view it as a point solution for restaurant delivery or a luxury service. To combat this, the company intends to, “expand the number of merchants we connect people with, broaden the range of services we offer, improve our quality and ease-of-use, and extend our affordability.”

DoorDash is an online food order demand aggregator which allows its consumers to order food-on-demand for pickup or delivery from merchants mainly in the U.S.

At the time of publication, shares of DoorDash were ramping 8.29% higher to $207.93. The stock has a 52-week low of $110.13 and a 52-week high of $256.09.