Just what was 'DoorDash' supposed to DO?

[mrvette]

never heard of the company, but see various pix of store signs.....never heard of the operation.....mutch less any stock crap going on....

SO what was going on???

and what was Game Stop about??? supposed business venture???

[snide]

DoorDash is a door delivery service. If you need new doors for your house, you can call them up, they'll take measurements using your smart phone, and have new doors delivered to your house in 30 minutes or less.

[Rikki Z-06]

Originally Posted by snide

DoorDash is a door delivery service. If you need new doors for your house, you can call them up, they'll take measurements using your smart phone, and have new doors delivered to your house in 30 minutes or less.

[Vandelay Industries]

It's a confusing name for a company that's been manufacturing and delivering battery powered electric lawnmowers for over 40 years.

I shit you not.

[Rikki Z-06]

Originally Posted by Vandelay Industries

It's a confusing name for a company that's been manufacturing and delivering battery powered electric lawnmowers for over 40 years.

I shit you not.

[MadInNc]

Target still Robinhood

[Murray]

Originally Posted by Vandelay Industries

It's a confusing name for a company that's been manufacturing and delivering battery powered electric lawnmowers for over 40 years.

I shit you not.

On the way to the cabin yesterday we passed a pet store with this on the sign......


Your pets will love us, we Shih Tzu not

[Bill]

Originally Posted by Vandelay Industries

It's a confusing name for a company that's been manufacturing and delivering battery powered electric lawnmowers for over 40 years.

I shit you not.

[Vandelay Industries]

Originally Posted by bill_daniels

[ZipZap]

Originally Posted by MadInNc

Target still Robinhood

It's all fun and games until it's not

F them. I can't wait until the current administration calls this an insurrection, or coup.

[Torqaholic]

I think it's about people who live on fast food. They didn't want to risk catching the virus by going out to shop and were incapable of cooking anyway. So door dash stepped in to deliver fast food to them. Not sure whether the virus expanded their customer base or they were created to do this but it's why they became a big deal.

[snide]

Originally Posted by Vandelay Industries

It's a confusing name for a company that's been manufacturing and delivering battery powered electric lawnmowers for over 40 years.

I shit you not.

[snide]

Originally Posted by Torqaholic

I think it's about people who live on fast food. They didn't want to risk catching the virus by going out to shop and were incapable of cooking anyway. So door dash stepped in to deliver fast food to them. Not sure whether the virus expanded their customer base or they were created to do this but it's why they became a big deal.

DoorDash started their food delivery service a few years ago.

[LisaJohn]

I had a Jack Russell terrier that ate a paper towel. She pooped it out and wiped her but at the same time. It rained later and washed the poo off and I could still see the print on the paper towel.

[Bill]

And, in today's installment of "things we all could have gotten through life quite well without knowing....."

Originally Posted by LisaJohn

I had a Jack Russell terrier that ate a paper towel. She pooped it out and wiped her but at the same time. It rained later and washed the poo off and I could still see the print on the paper towel.

[Vandelay Industries]

This thread has taken a shitty turn.

[09CTSV]

We had one of our dogs tear up a sponge. The wife and I were doing the poop patrol and quickly discovered which dog had left the mine, blue sponge in the mix.

[Murray]

Originally Posted by snide

DoorDash started their food delivery service a few years ago.

Here it’s Door Dash and SkipThe Dishes

[LisaJohn]

It’s a crappy shituation.

[MikeB]

Originally Posted by mrvette

never heard of the company, but see various pix of store signs.....never heard of the operation.....mutch less any stock crap going on....

SO what was going on???

and what was Game Stop about??? supposed business venture???

This has turned into a pretty shitty thread,
but here's an explanation for you Gene:
(gloomed from FB)


Here’s a pretty good explanation of what was going on with GameStop. Short selling involves borrowing a stock from someone who owns it with the promise to return it at a later date, and pay a small fee based on the value of the stock. You then sell the stock, wait for the price to drop and buy it back at a cheaper price. You then return the stock to the original owner and pocket the difference.
This allows people to make money off of a drop in the price of a stock. Unlike with regular stock trading, however, the potential losses of you are wrong are not limited. If you buy a $10 share in a company and the company goes bankrupt, you lose $10. If you short a company with a $10 share price, and that price jumps to $100 per share, you just lost $90.
Since the start of the pandemic, GameStop has clearly been struggling in a big way. Such a big way, that a lot of people, including major hedge funds, decided to short GameStop. A lot.
Let’s say I own a share of GameStop stock and you want to short it. I lend you my share, and you sell it. Now someone else wants to short the stock as well, so they borrow the share from the person you sold it to and then they sell it. And so on. If this happens enough times, you can have more people who owe back a share to the “original” owner than there are actual shares of the stock.
This happened to GameStop which had 140% of its share sold short. This presents a problem for short sellers if the price of the stock starts going up instead of down, because there aren’t enough shares to go around if they decide they all need to cut their losses and buy back the shares they owe at once.
Some smaller investors, including those at r/wallstreetbets, noticed this happening to GameStop’s stock and decided to take advantage. They bought up a bunch of shares themselves, driving the price up and further limiting the availability of shares. This caused some short sellers to pull out, which drove the price up further, which caused more short sellers to pull out, and so on.
Meanwhile, the attention brought to this story and the quickly rising share price caused more people to buy the stock in the hope of taking advantage of the meteoric rise in price to make money themselves.
Back in the summer, you could buy a share for $4 apiece. Yesterday, those same shares were $147 each. Today they’re $345. The big hedge funds that were selling the stock short are currently literally billions in the hole while the smaller investors are making money hand over fist.
That all said, GameStop is still a struggling company underneath it all. It is nowhere near as valuable as its current share price, which means that, eventually, the bubble is going to burst and the price is going to come crashing back down. Anyone who buys in at the top expecting it to keep shooting up is going to lose a ton of money. Anyone still shorting it at that time is going to make a ton of money, and anyone who bought it early and sells before it pops is going to make a ton of money.
It’s not entirely clear whether the hedge funds are going to wind up actually losing billions in the end or if they can recoup some of that when the bubble bursts (they may or may not come out ok), but there are definitely going to be a bunch of people currently riding the hype train who lose whatever they invest at this point.