Jim Cramer Says He Thinks “DoorDash Is a Buy”

DoorDash, Inc. (NASDAQ:DASH) was among the stocks Jim Cramer discussed on Mad Money, highlighting several companies with market caps over a trillion dollars. Inquiring about the stock, a caller mentioned that they are down 30%. Cramer replied:

Okay, I think DoorDash is a buy. There’s a real group of stocks now, Uber, DoorDash, Reddit, they are going down. People want to own hardware. They don’t want to own those others. They don’t want to own Zscaler. They don’t want to own… software. They just want semis, only semi. And that’s what’s hurting DoorDash. That’s what they want is semi, not DoorDash.

DoorDash, Inc. (NASDAQ:DASH) runs a commerce platform that connects merchants, consumers, and delivery partners. The company provides delivery, payment, and marketing solutions, as well as subscription and white-label services for businesses. Cramer was bullish on the stock during the April 1 episode as he commented:

Number seven, odd, one, DoorDash, down nearly 34% in the first quarter. That’s right, DoorDash. AI displacement bears have been coming for all the sorts of online marketplace stocks. Why? A company like DoorDash is all about network effects, but the AI doomers say these network effects go away once all information is available to everyone via AI platforms. I don’t buy that. Once the user base is there, I’d think it’s very hard for these marketplaces to be toppled, and DoorDash is now the cheapest it’s ever been. I like it. I think the stock of DoorDash can be bought here.

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