Shares of DoorDash, Inc. DASH experienced a sharp decline in today’s session following mixed financial results for its fourth quarter.
DoorDash anticipates first-quarter marketplace GOV to range between $18.5 billion and $18.9 billion, with adjusted EBITDA estimated within $320 million to $380 million.
Subsequently, DoorDash shares plummeted 12.2% to $110.88 on Friday.
Meanwhile, here’s a glance at other stocks that soared in today’s mid-day session.
Stock Surges
- Gaxos.ai Inc. GXAI witnessed a whopping 444% gain at $1.41 after announcing plans to launch an AI solution for game developers and studios.
Stock Losers
- China Natural Resources, Inc.
Market Plunge: What Caused the Recent Stock Tumble?
The Carnage
- CHNR dipped 48% to $1.81 after the company arranged a registered direct placement of approximately $3.27 million worth of common shares at $2.20 per share with institutional investors.
- JX Luxventure Limited (JXJT) declined 28% to $1.9850.
- Semper Paratus Acquisition Corporation (TVGN) shares fell 25.1% to $7.49 after surging 119% on Thursday. Tevogen Bio announced an $8 million equity investment.
- Bloom Energy Corporation (BE) shares fell 24% to $7.49 after the company reported worse-than-expected fourth-quarter financial results.
- Cooper-Standard Holdings Inc. (CPS) fell 24% to $14.60 following weak quarterly results.
Root Cause Analysis
- Dunxin Financial Holdings Limited (DXF) fell 24% to $0.3650.
- Roku, Inc. (ROKU) shares fell 22.7% to $73.08 after the company reported fourth-quarter financial results.
- MultiSensor AI Holdings, Inc. (MSAI) shares fell 21.7% to $2.75 after jumping over 68% on Thursday.
- Trupanion, Inc. (TRUP) fell 19.5% to $28.41 following fourth-quarter results.
- Dropbox, Inc. (DBX) shares fell 17.8% to $26.74 after reporting fourth-quarter results.
The Fallout
- Datasea Inc. (DTSS) fell 17.1% to $8.14 after ending yesterday’s run on the bourses with over 9% gain.
- Inventiva S.A. (IVA) shares tumbled 17% to $3.30 after the company reported preliminary 2023 fiscal year financial results and issued an update on its clinical trial NATiV3.
- MultiSensor AI Holdings, Inc. (MSAI) fell 14.8% to $2.99.
- AMN Healthcare Services, Inc. (AMN) fell 14.7% to $66.21 after the company reported fourth-quarter financial results and issued first-quarter revenue guidance below estimates.
- Iris Energy Limited (IREN) fell 14% to $6.66 following second-quarter results.
Understanding the Aftermath
- Auddia Inc. (AUUD) dipped 13.4% to $0.1982.
- TreeHouse Foods, Inc. (THS) fell 13% to $37.18 after the company reported worse-than-expected fourth-quarter revenue results and issued FY24 guidance below estimates.
- Yelp Inc. (YELP) dipped 11% to $39.50 after the company reported mixed fourth-quarter financial results. Yelp also announced its board of directors authorized a $500 million increase to its share repurchase program.
- Telephone and Data Systems, Inc. (TDS) fell 10.7% to $16.46 following quarterly results.
- Carvana Co. (CVNA) fell 8.3% to $52.79. Raymond James analyst Mitch Ingles downgraded Carvana from Market Perform to Underperform.
The Ripple Effects
- Mercer International Inc. (MERC) dipped 7.8% to $7.19 following weak results.
- Westrock Coffee Company (WEST) fell 7.7% to $10.27 after the company issued an update on preliminary 2023 full year results.
- United States Cellular Corporation (USM) dipped 6.9% to $38.83 after the company reported fourth-quarter financial results and issued FY24 guidance.
- SunPower Corporation (SPWR) fell 6.2% to $4.0150. Guggenheim analyst Joseph Osha downgraded SunPower from Neutral to Sell and announced a $1 price target.
