Food-delivery outfit DoorDash sold 33 million shares to institutional investors yesterday for $102 each, raising $3.37 billion, for an initial market value of $38 billion. Shares [DASH] started trading mid-day today, went on to around $190, for an initial pop of 86%, giving it briefly a ridiculous market value of $70 billion, before backing off. In 2018, the company had a “valuation” of $1.4 billion.

Read More: https://wolfstreet.com/2020/12/09/glorious-ipo-spac-bubble-fattened-further-by-ridiculous-doordash-ipo-airbnb-next/