The Shutdown Boom Photo: /Associated Press Updated Dec. 9, 2020 4:17 pm ET
Before Beltway politicians sign off on another trillion-dollar stimulus plan, they might want to ponder how the earlier trillions spent by Congress and created by the Federal Reserve are still sloshing through the economy. Covid restrictions from state and local politicians have disrupted the ability of many workers to earn a living, but today’s market action shows there are a few big winners, too. When people are ordered to stay home, they still want to eat.
The Journal’s Micah Maidenberg reports: DoorDash Inc. shares jumped in their public-market debut Wednesday, opening 78% above their IPO price, reflecting investor enthusiasm for the market leader for food delivery in the U.S. and heightened interest for new stock offerings.