Doordash’s stock plunged as investors questioned its aggressive spending plans, including “several hundred million dollars” for new initiatives like autonomous delivery. CEO Tony Xu defended the strategy, citing past success. The company’s recent acquisitions and investments have raised concerns, with analysts urging patience. Third-quarter profit missed estimates, but revenue beat expectations. Adjusted EBITDA forecast for the fourth quarter is below analyst expectations. Deliveroo acquisition expected to boost earnings in 2026. Stock is up over 20% this year.

Read more at CNBC: Doordash stock drops 15%, heads for worst day ever on spending fears