After a bearish double-top pattern at around $270 in shares of DoorDash (DASH), the stock closed last week at $206.96. Investors did not like the company’s third-quarter earnings report.
DoorDash earned $0.55 a share as revenue increased by 25.5% Y/Y to $3.4 billion. The firm is forecasting higher expenses worth several hundred million dollars next year. New product initiatives are costly. For example, it is enhancing developer productivity through AI-native tooling.
In the cryptocurrency market, Bitcoin (BTC) entered bear market territory. On Monday, Bitcoin continued its downtrend to close at $91,382.61. Prices are now back to where it started in 2025. Speculators unwound their bet against the U.S. dollar (UUP). They relied on the high odds of the central bank cutting interest rates in December. Instead, the Fed might not change rates, citing high inflation and a stabilizing job market.
Investors should watch out for Strategy (MSTR) breaking below its 52-week lows next. MSTR stock closed at $195.42 on Monday. Coinbase (COIN) lost 15% in the last five days while Robinhood (HOOD) faced a double-top at around $150. HOOD stock closed at $115.97.
In the tech sector, Oracle (ORCL) and Intel (INTC) both continued lower, following last week’s declines. Lilly (LLY) shares, however are rising. Fearful investors are rotating out of tech and into the leading drug makers.
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