Shares of DoorDash (DASH) are lower in afternoon trading after Andrew Left’s Citron Research called out the food delivery company in a newly-published short report, calling its recent offering of stock “the most ridiculous IPO of 2020.” According to Citron, there “is no business that is more commoditized and competitive than having food delivered from the restaurant to your home. There is zero differentiation between Uber Eats, Postmates, Caviar, Grubhub, DASH, or any local provider. Even worse, this business model has no brand loyalty as the consumer just picks who will deliver their food for the cheapest price.” In conclusion, Left’s firm argues the stock “should trade to $40 quickly as insiders eagerly await to dump their shares.” In afternoon trading following the publication of the report, DoorDash shares are down $7.65, or 5%, to $150.40.