DoorDash set for blockbuster trading after IPO raises $3.37 billion

Shares of DoorDash Inc were set for a blockbuster debut on Wednesday after the food delivery startup raised $3.37 billion in one of the biggest U.S. stock market launches so far in 2020.

At 12:00 p.m. ET, the company’s shares were indicated to open between $195 and $200, significantly above its upwardly revised initial public offering price of $102 apiece.

If gains hold, DoorDash’s market capitalization would be around $63.5 billion at the top end of the indicated range.

The indicated jump mirrors that of Warren Buffett-backed Snowflake Inc, whose shares more than doubled in their New York Stock Exchange debut in September.