Cathie Wood's Ark Investment Reportedly Starts Position In Doordash: Retail Stays Optimistic

2025-06-17 06:12:20

(MENAFN- AsiaNet News)

Cathie Wood's Ark Investment Management has purchased 139,236 shares of DoorDash (DASH), according to TipRanks, marking the first time the popular investment firm has gained exposure to the food-delivery company's stock.

The transaction was made on Monday. Based on the DASH average trading price on the day, Ark would have likely bought shares worth $43.6 million.

In the same trade, Ark also reportedly bought over $18 million worth of shares of Nvidia (NVDA). The fund manager sold stakes in Meta Platforms (META) and the newly-listed Circle Internet Group (CRCL).

Ark's investment in DoorDash follows a massive acquisition deal by the company to expand its food delivery operations.

Last month, it agreed to acquire the UK's Deliveroo for $3.8 billion, pending approvals. Following the announcement, several analysts raised their price targets on its stock.

DoorDash also announced a smaller $175-million acquisition of ad tech platform Symbiosys last week.

On Stocktwits, the retail sentiment for DASH was 'bullish,' unchanged from the previous day.

DASH sentiment and message volume as of June 17 | Source: Stocktwits

Doordash is seeing momentum in its business. It reported annual net income for the first time last year, alongside strong fourth-quarter results.

DASH shares are up 32.2% year-to-date.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

MENAFN17062025007385015968ID1109684624

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.