13 Best Performing NASDAQ Stocks According to Hedge Funds

Page 8 of 11

4. DoorDash, Inc. (NASDAQ:DASH)

Number of Hedge Fund Holders: 100

Market Capitalization: $115.86 billion

Year-To-Date Performance: 61.68%

DoorDash, Inc. (NASDAQ:DASH) is one of the best performing NASDAQ stocks according to hedge funds. On September 30, the company introduced a new hardware solution called SmartScale. DoorDash stated that SmartScale is designed to increase order accuracy in restaurant deliveries by combining precise weighing technology with smart predictive analytics.

The device checks each order’s weight to ensure it matches the expected contents. If there is any discrepancy, the system notifies kitchen staff in real time so mistakes can be corrected before orders leave the restaurant. This solution aims to reduce cases of missing or incorrect items, quicken the process of handing off orders to Dashers (delivery drivers), and improve overall customer satisfaction.

DoorDash said that SmartScale has led to a reduction in missing item claims by as much as 30%. It added that the device is smaller than a cutting board, making it practical for use in busy commercial kitchens.

Panera Bread is the first major national restaurant brand to implement SmartScale for DoorDash orders, drive-thru, and first-party digital orders. It reports the device as easy to use and highly effective in ensuring order accuracy.

DoorDash, Inc. (NASDAQ:DASH) operates a local commerce platform that connects merchants, consumers, and delivery contractors. It manages the DoorDash Marketplace and Wolt Marketplace. It provides DoorDash Drive and Wolt Drive, white-label logistics services that power merchant deliveries, as well as subscription programs such as DashPass and Wolt+. Its main offerings are marketplace delivery services, merchant logistics solutions, and consumer subscriptions.

Page 8 of 11