Why DoorDash Shares Are Sliding

DoorDash Inc DASH shares are trading lower Monday alongside several other stocks in the broader consumer discretionary sector amid overall market weakness as a rise in bond yields weighs on stocks.

The U.S. 10-Year Treasury note reached new three-year highs last week before pulling back. It's moving higher again Monday, hovering around 2.866% at time of publication. The strength comes as investors continue to assess inflationary pressures.

Investors are also preparing to assess the financial impact stemming from the Russia-Ukraine conflict as a large number of companies are set to report earnings this week.

See Also: Earnings Outlook For Netflix

DoorDash is an online food order demand aggregator that connects consumers with businesses across the U.S., Canada, Australia, Japan and Germany.

DASH 52-Week Range: $74.32 - $257.25

According to data from Benzinga Pro, the stock was down 5.35% at $103.46 at press time.

Photo: GoToVan from Flickr.