5 Best New Stocks to Buy Now

2. DoorDash, Inc. (NYSE:DASH)

No of HFs: 38

Total Value of HF Holdings: $3.95 Billion

The food delivery service DoorDash, Inc. ranks 2nd on our list of best new stocks to buy now. As of March 1, DASH shares trade at $169. Shares of DASH rallied 18% over the last twelve months. Philippe Laffont’s Coatue Management is one of the top hedge funds having positions in DASH. The hedge fund had 8.7 million shares of the company, worth $1.24 billion, as of the end of the fourth quarter.

During the fourth quarter of 2020, DASH reported revenue of $970 million. The company is expecting continuous growth in marketplace gross orders as COVID-19 vaccines become available for general public.

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