An earlier version misstated the company's historical results. It's been an up-and-down ride so far for DoorDash ( DASH 1.25) shareholders since the third-party delivery platform's initial public offering (IPO) in December 2020. Correction: DoorDash had positive net income in the second quarter of 2020. Shares of DoorDash were up more than 3% for the day before Chanos made his comments on CNBC. Wall Street is broadly skeptical of DoorDash, as more than half of analysts have a hold rating on the stock, according to FactSet. During his career, Chanos has made several successful bets against companies that later proved to have major flaws, most famously Enron two decades ago. valuations get destroyed for money-losing companies when capital is not avaiable," Chanos said on Thursday. "If you're not making a lot of money, and the capital markets turn a lot less friendly. Grubhub was acquired by Just Eat Takeaway earlier this year. After collecting analyst forecasts for DoorDash stock for 2023, we made one consensus forecast. Chanos has previously said that he was short Grubhub, a DoorDash competitor. DoorDash (DASH) stock consensus forecasts for 2023. Shares are down more than 30% since mid-November. The stock is up 17% year to date but has struggled recently. The company reported a loss of $101 million for the third quarter of 2021. The second quarter of 2020, shortly before the company went public, is the only quarter DoorDash has reported positive net income. "If not now, when?" DoorDash went public nearly a year ago after the Covid pandemic had caused a surge in usage for food delivery services. "You're not making money in the pandemic, when everyone is ordering food and everyone is staying at home and you have a captive audience," Chanos said. Chanos, the founder of Kynikos Associates, laid out his short thesis on Door Dash on CNBC's " Halftime Report ," saying that the company's failure to generate cash and profits during a period of heightened demand exposed a flaw in the business model. Legendary short-seller Jim Chanos has a position against delivery company DoorDash. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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