Doordash stock drops 15%, heads for worst day ever on spending concerns
1. Doordash's stock faced severe decline due to aggressive spending plans. 2. Company intends to invest hundreds of millions in new product initiatives. 3. Third-quarter profit missed expectations, impacting investor sentiment negatively. 4. Investments include acquisitions of SevenRooms and Deliveroo for expansion. 5. CEO Xu remains optimistic, citing past successes in investment strategies.