Diamonds and Dogs

11/10/21

DoorDash (DASH) dashing higher. The biggest meal-delivery service company is up 13% following in-line earnings as sales rose 45% to $1.27 billion. DoorDash went on to say they will be acquiring Finnish food-delivery startup Wolt Enterprises Oy for about $8 billion in an all-stock offer. Seems like a lot of money, but WallStreet likes it.

Adidas (ADDYY) lower following earnings. Adidas is down 5% following lackluster earnings as sales grew just 3% to € 5.752 billion. Adidas blaming pretty much everything for the disappointing results including  the supply chain, logistics problems, COVID-19-related lockdowns and a problematic market environment in mainland China. Might want to add Nike to that list.

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