New York: The shares of food delivery company DoorDash almost doubled from their initial public offer, or IPO, price in trading debut on Wednesday.
The DoorDash stock opened at $182 after the non-profitable company had raised $3.37 billion in its IPO, in which the shares were priced at $102 apiece.
The huge jump on debut, set to become be the third biggest this year in a piping-hot IPO market, values DoorDash at about $68.4 billion.
DoorDash sold 33 million shares for $102 each after it had marketed them for up to $95.
Goldman Sachs Group and JPMorgan Chase are leading DoorDash’s offering with Barclays, Deutsche Bank, RBC Capital Markets and UBS Group. The shares are trading on the NYSE under the symbol DASH.