DoorDash has outperformed SpaceX by 48% since IPO

DoorDash has performed 48% better than SpaceX since Elon Musk’s rocketship company launched for public trading at $150 per share on June 12.

While SpaceX, which famously lost $1 trillion of market capitalization for its investors has crashed 6%, DoorDash has increased in value by 42%.

In fact, based on current stock prices, it would have been better to buy any number of restaurant stocks instead of SpaceX on the Nasdaq. Texas Roadhouse has performed 13% better, Flanigan’s has trounced by 35%, and Cracker Barrel has outperformed by 12%.

Measuring the drawdown from SpaceX’s peak is even more embarrassing.

Since June 16, SpaceX has declined 37%. It hit an intraday high of $225.64 that day, and performance has been down-only since.

DoorDash opened for trading at $155.24 per share on June 12, while SpaceX began trading at $150 — $15 higher than its formal IPO price.

Almost everyone has unrealized losses on SpaceX as a reward for patiently holding their IPO investment through today.

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