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Stocks making the biggest moves midday: DoorDash, Airbnb, Denny's, Virgin Galactic, Arvinas & more

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DoorDash and Airbnb get downgraded. Elliott Management takes a stake in Public Storage.

— The stock dropped more than 7% after D.A. Davidson slashed its rating on the food delivery company to neutral from buy. D.A. Davidson said the stock's current valuation appears to leave little room for any performance hiccups. DoorDash went public last Wednesday, with its stock surging more than 80% during its debut.

— Shares fell more than 8% after Gordon Haskett downgraded the home rental platform to underperform from buy. The Wall Street firm said an overwhelming majority of investors it spoke to have been unable to justify Airbnb's valuation relative to online travel agencies. Airbnb had a blockbuster public market debt last week that saw its shares more than double on the first day of trading.

 

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How can DoorDash delivering McDonald's be worth more than McDonald's?

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