DASH Stock Surges Following Waymo Partnership Announcement

Alphabet’s (GOOG, GOOGL) Waymo announced on Thursday that it is partnering with DoorDash (DASH) in Phoenix, expanding into the grocery delivery segment alongside its autonomous ride-hailing services.

The company said that DoorDash customers may be matched with a fully autonomous Waymo vehicle for their next delivery from a participating merchant in the coming months.

If customers opt for autonomous vehicle delivery when checking out on DoorDash, they may be matched with Waymo to deliver their order. Once the order arrives, the customer can open the trunk with the DoorDash app and grab their items.

The robotaxi company said that it will begin by delivering from DashMart, the DoorDash-owned and operated convenience, grocery, and retail stores. However, it added that it intends to include more local Phoenix merchants and a variety of offerings over time.

Waymo already offers autonomous rides in Phoenix via its own app in addition to Uber. DASH stock traded over 3% higher on Thursday morning at the time of writing.

On Stocktwits, retail sentiment around DASH stock fell from ‘neutral’ to ‘bearish’ territory over the past 24 hours, while message volume stayed at ‘normal’ levels.

Testing of the new autonomous delivery service in Metro Phoenix is now underway, the San Francisco-based delivery company said. Broader commercial operations are slated for later this year, it added. 

The two companies also announced that DashPass members can enjoy a special promotional offering for Waymo’s ride-hailing service in Phoenix, San Francisco, and Los Angeles, starting on Thursday and running until the end of the year, with a $10 discount on one Waymo ride per month. However, the offer is limited to weekday rides booked between 2 a.m. and 2 p.m.

DASH stock is up by 68% this year and by about 89% over the past 12 months. 

Read also: CRML Stock Jumps Following $50 Million PIPE Deal To Develop Tanbreez Rare Earth Project

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