Advertisement
Singapore markets close in 2 hours 8 minutes

  • Straits Times Index

    3,277.70
    -15.43 (-0.47%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,249.99
    +48.72 (+0.28%)
     

  • FTSE 100

    8,040.38
    -4.43 (-0.06%)
     

  • Bitcoin USD

    64,252.07
    -2,521.32 (-3.78%)
     

  • CMC Crypto 200

    1,392.56
    +9.98 (+0.72%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • Dow

    38,460.92
    -42.77 (-0.11%)
     

  • Nasdaq

    15,712.75
    +16.11 (+0.10%)
     

  • Gold

    2,332.80
    -5.60 (-0.24%)
     

  • Crude Oil

    82.88
    +0.07 (+0.08%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • FTSE Bursa Malaysia

    1,570.80
    -0.68 (-0.04%)
     

  • Jakarta Composite Index

    7,151.77
    -22.76 (-0.32%)
     

  • PSE Index

    6,584.46
    +11.71 (+0.18%)
     

DoorDash Approves $400m Share Buyback Program

Investing.com
·1-min read

By Sam Boughedda

Investing.com -- DoorDash Inc (NYSE:DASH) has authorized the repurchase of up to $400 million shares, it was revealed late Thursday.

In a regulatory filing, the online food ordering and food delivery platform said that the buyback program aims to offset a portion of the dilution from its employee stock compensation program. It is the first stock buyback authorization from the company since it went public in 2020.

"Repurchases may be made from time to time through open market repurchases or through privately negotiated transactions," stated DoorDash.

DoorDash saw significant growth during the pandemic, with its stock hitting a high of over $257 in November 2021. However, it is down more than 54% this year and currently trades above the $66 mark.

ADVERTISEMENT

In its first-quarter earnings, released at the beginning of May, DoorDash missed quarterly profit expectations but beat revenue forecasts.

The company said it grew Monthly Active Users and DashPass members to new record highs.

Related Articles

DoorDash Approves $400m Share Buyback Program

H&M-backed project pilots CO2-capturing aprons at Stockholm restaurant

McDonald's Russia franchisees to have option of working under new brand -TASS