DoorDash (DASH) Plunges 1.89% as $780M Volume Ranks 130th in Liquidity Amid Unit Economics Scrutiny

On September 24, 2025, DoorDash (DASH) closed with a 1.89% decline, trading with $0.78 billion in volume, ranking 130th among U.S. stocks by liquidity. The drop followed mixed signals from recent operational updates and evolving market dynamics in the delivery sector.

Analysts noted that the stock's performance reflected cautious investor sentiment amid ongoing debates about the sustainability of its unit economics. Recent reports highlighted margin pressures from competitive pricing wars and seasonal demand fluctuations, though the company’s expansion into new service categories showed potential for long-term growth. Market participants emphasized the importance of capital efficiency metrics in evaluating near-term trajectory.

Backtesting of a volume-driven trading strategy revealed structural complexities. A hypothetical portfolio rebalanced daily to hold the 500 highest-volume stocks would require clarification on key parameters: the universe of eligible securities, timing of trade execution relative to volume data, and methodology for handling large-scale portfolios. Current tools necessitate either a simplified approximation or custom Python-based analysis to accurately simulate performance from January 2022 through present.