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    DoorDash plunges, Amazon-Uber Eats deal adds more competitive pressure analysts say

    Picture of Amazon.com logoAmazon.com
    Thu 16:02
    BUZZ-DoorDash plunges, Amazon-Uber Eats deal adds more competitive pressure analysts say
    ** Shares of food delivery DoorDash DASH.O down 14% at $170.92
    ** Stock rose as much as 8.6% on Wednesday
    ** Amazon AMZN.O announces partnership with Uber Eats, says prime members will get $0 delivery and $20 off in their first two orders of $25 or more through platform
    ** Amazon earlier had a restaurant delivery partnership with GrubHub
    ** DoorDash on Thursday announced partnership with ride-hailing firm Lyft LYFT.O for in-ride ordering 
    ** "The market appears to be reacting to Amazon's new partnership with Uber Eats, as well as a lukewarm response to DoorDash's partnership with Lyft" - eMarketer analyst Zak Stambor said
    ** DoorDash's plan of $17 billion acquisition of Instacart CART.O was a big move, but it's hard to compete with two giants joining forces, deal puts more competitive pressure on DoorDash, Emarketer analysts added
    ** As of last close, DASH stock up 17.3% since before CART acquisition was announced

     (Reporting by Koyena Das from Bengaluru)
     ((Koyena.das@thomsonreuters.com))

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