DoorDash's Most Active Dashers Are 'Unauthorized Workers:' Culper Shorts DASH Saying 10-11% Pay Raise Would 'Wipe Out' 2024 EBITDA - DoorDash (NASDAQ:DASH)
Short-seller Culper Research has initiated a short position in DoorDash Inc. (NASDAQ:DASH), alleging in a new report that the company’s financial success is built on a “supply crisis” solution: a “backdoor” system for onboarding unauthorized workers.Can DASH Not Afford Authorized Workers?The Oct. 23 report claims DoorDash’s profitability is so fragile that a mere 10-11% increase in Dasher pay would “wipe out the entirety of the Company’s $1.9 billion in 2024 Adj. EBITDA.”Culper alleges this vulnerability st ...