Arrived cold... DoorDash shares plunged 18% for the week after it dropped off its first earnings report as a public company. DoorDash beat expectations on quarterly sales, which more than tripled from 2019 as burrito-in-bed replaced Friday night out. But its quarterly loss more than doubled to $312M — that didn't sit well with investors. Also unappetizing: DoorDash expects order volume to fall in 2021 as restaurants reopen and people ditch the bed for the bar.
Try meditation... Workhorse had a rough week. The electric van maker saw its stock lose more than half its value over the week. Investors were bummed that Workhorse lost a key contract to build USPS' next-generation of mail trucks. Instead, Oshkosh will get $482M to assemble 50K to 165K USPS trucks over the next 10 years. Workhorse brought in less than $1M in sales in the first nine months of 2020, so this government contract would’ve made a big difference. BTW: Workhorse reports earnings today.