Did Jim Cramer Get These 10 Predictions Right or Wrong?

8. DoorDash, Inc. (NASDAQ:DASH)

Number of Hedge Fund Holders: 88

Later in the segment, Cramer turned to food delivery players and focused on DoorDash, Inc. (NASDAQ:DASH), following its earnings report and a 10% stock drop due to cautious guidance at the time. Despite investor skepticism, he remained optimistic back then and said:

“The food delivery service company delivered a solid quarter with seemingly grim guidance that sent the stock down more than 10% the next day. […] I wanted to see if people were backing away from DoorDash’s offerings […] but I didn’t see much evidence of demand slackening in the quarter, and the guidance doesn’t reflect that either. […] They’re just making some big investments in order to bolster the company’s growth in the second half of the year and beyond. […] Personally, I think DoorDash has earned the benefit of the doubt here. […] But at the very moment, there’s very little patience for a new investment cycle, which is what the company seemed to be telegraphing. […] In the end, I got tremendous respect for DoorDash’s co-founder and CEO Tony Xu, and like I said, my gut instinct is that the company deserves the benefit of the doubt as it spends more to grow the business. […] I think DoorDash is worth your trust — just don’t expect it to earn the market’s trust anytime soon.”

DoorDash defied the doubt and surged 69.77%, making this one of Cramer’s best calls from that segment.

DoorDash, Inc. (NASDAQ:DASH) is an online food delivery platform that connects consumers with local restaurants and merchants through its on-demand logistics network. Cramer had this to say in April regarding increasing competition in the industry:

“Okay, well look—it’s an expensive stock, but I believe in Tony Xu. I have believed in Tony Xu when it was private and when I owned restaurants, and I think he’s doing a terrific job. I actually liked the quarter. I think people were way too quick to say it wasn’t great. They, I think, will be judged harshly.”