DOORDASH IPO HAS ITS SKEPTICS
Joe Guszkowski, 08 December 2020
Third-party delivery company DoorDash will set a share price for its initial public offering Tuesday, riding a wave of momentum that could bring it a valuation of more than $30 billion.
In the latest sign of demand for its stock, the company on Friday raised the price range for its shares to between $90 and $95, up from $75 to $85.
But not everyone shares that enthusiasm about the IPO. Some investors question the terms of the offering and the company’s readiness for the public market, while others believe its growth runway is shrinking.
On Monday, CtW Investment Group sent a letter to DoorDash’s board raising concerns about the IPO’s share structure and how the company characterized public reaction to a former tipping policy. CtW works with union-sponsored pension funds.
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4 Things to Know From DoorDash’s IPO Filing
Evan Niu, 17 November 2020
DoorDash has at long last filed the public version of its S-1 Registration Statement with the SEC, nearly nine months after submitting a confidential version to the SEC. The leading food delivery platform has opened its books for prospective investors ahead of going public through an IPO. The upcoming debut comes as Grubhub (NYSE: GRUB) is preparing to be acquired by Just Eat Takeaway. The company plans to list on the New York Stock Exchange under the symbol “DASH.”
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Hyliion Stock Isn’t Worth Your Money At This Point
Alex Sirois, 29 October 2020
Investors looking for further alternative fuel vehicle plays might consider Hyliion (NYSE:HYLN) and Hyliion stock. Hyliion has already gone public through a special purpose acquisition company (SPAC). Now it is working towards production. The company is quite different from industry peers Tesla (NASDAQ:TSLA) and Nikola (NASDAQ:NKLA) in its approach and offerings. Yet, it does bear some similarities to Nikola, specifically the manner in which it has come to market.
Where Tesla and Nikola will produce class 8 trucks, Hyliion is producing drive train solutions. Like Nikola, Hyliion has come to market via the SPAC route. And like Nikola, its stock has fallen post-merger. Furthermore, the company may also soon be embroiled in controversy. First, the good.
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Investors Should Not Buy Hyliion Stock
Mark R. Hake, 27 October 2020
Hyliion Holdings (NYSE:HYLN) stock has had a difficult launch since it closed its reverse merger with Tortoise Acquisition Corp. Hyliion stock, trading at $22.80 this afternoon, has fallen over 50% since Sept. 28 when it was changing hands for $48. That was the same day that the reverse merger was approved by the shareholders of both companies.
Since Oct. 14, the day that the merger closed and the trading symbol was changed to HYLN, the stock is down nearly 30%. But to be fair, the stock, which previously traded under the symbol SHLL, has risen significantly since the deal was announced on June 19. The stock closed on that day at $14.04
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