Ray Dalio Was Wrong About These 5 Stocks

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1. DoorDash, Inc. (NYSE:DASH)

Number of Hedge Fund Holders: 52  

Percentage Decline in Share Price (YTD): 53.19%     

DoorDash, Inc. (NYSE:DASH) is a logistics platform that connects merchants with consumers. Latest data shows that Bridgewater Associates owned over 18,000 shares of DoorDash, Inc. (NYSE:DASH) at the end of the first quarter of 2022 worth $2.1 million, representing a small portion of the portfolio. 

On June 3, DA Davidson analyst Tom White maintained a Neutral rating on DoorDash, Inc. (NYSE:DASH) stock and lowered the price target to $82 from $135, noting that the updated target reflected “the broader multiple compression for technology growth stocks”. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Coatue Management is a leading shareholder in DoorDash, Inc. (NYSE:DASH), with 5.2 million shares worth more than $618 million. 

You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.

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