DoorDash disappoints Wall Street with downbeat quarterly core profit

DoorDash's stock fell over 14% after forecasting a Q2 core profit below expectations, indicating that rising costs are impacting profits despite increased orders. New minimum pay regulations in cities like New York and Seattle have increased expenses, affecting the platform's accessibility and flexibility. The company, however, saw a 21% rise in total orders and is expanding into new markets like groceries and alcohol to compete with rivals like UberEats and Instacart.