DoorDash shares are trading lower after Uber and Instacart announced a delivery partnership.
Portfolio Pulse from Benzinga Newsdesk
DoorDash shares are trading lower following the announcement of a delivery partnership between Uber and Instacart, indicating increased competition in the delivery sector.
May 07, 2024 | 12:08 pm
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DoorDash shares are experiencing a downturn as a result of the newly announced partnership between Uber and Instacart, which could intensify competition.
The partnership between Uber and Instacart directly impacts DoorDash by increasing competition in the delivery market, which is likely to put pressure on DoorDash's market share and potentially its revenue growth, leading to the negative reaction in its stock price.
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