Procore signs multi-year strategic collaboration agreement with AWS
Investing.com -- Shares of DoorDash Inc. (NYSE:NASDAQ:DASH) climbed 5.6% in premarket trading after S&P Dow Jones Indices announced the company’s upcoming inclusion in the S&P 500 index.
The food delivery company will join the Consumer Discretionary sector of the index starting Monday, March 24.
This inclusion is considered a significant milestone for DoorDash, as it reflects the company’s sustained financial performance and solidifies its standing among investors.
DoorDash’s eligibility for the S&P 500 was supported by its recent financial achievements, including nearly $140 million in GAAP profit. This marked the company’s second consecutive quarter of GAAP profitability and surpassed the breakeven point for the past four quarters on a GAAP basis.
While meeting these financial benchmarks was crucial for consideration, the final decision rested with the S&P Committee, making the inclusion a notable catalyst for the stock.
The announcement follows DoorDash’s recent earnings report, which highlighted its financial performance and potential for inclusion in the index.
The company’s successful addition to the S&P 500 is expected to attract a broader investor base, as over $10 trillion is indexed or benchmarked to the S&P 500 globally, making it the world’s most widely followed index.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.