Why DoorDash (DASH) Shares Are Trading Lower Today - DoorDash (NASDAQ:DASH), Walmart (NYSE:WMT)

DoorDash, Inc DASH is ending its years-long partnership with Walmart Inc WMT to deliver groceries and other products from stores to customers, effective September, the Business Insider reports.
DoorDash reportedly stopped working with Walmart "as it was no longer mutually beneficial" and " focused on its long-term customer relationships."
The partnership began in April 2018 as a pilot to deliver Walmart groceries to customers in the Atlanta metro area. Since then, the association has expanded to states across the country.
Walmart has been working to build out its delivery arm on top of using third-party delivery service providers like DoorDash.
"We'd like to thank DoorDash for their partnership and support of our customers the past several years," the Walmart spokesperson told Business Insider.
Meanwhile, DoorDash has been building out its DoorDash Drive platform, its business-to-business service that provides drivers to merchants through their website or app.
DoorDash Drive is now in the early stages of testing a service that will allow DoorDash drivers to pick up and drop off Meta Platforms Inc META Facebook Marketplace items to customers.
Price Action: DASH shares traded lower by 3.31% at $64.49 on the last check Friday.
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DoorDash Reportedly Terminates Long-Term Collaboration With Walmart, Shares Fall