DoorDash Stock Jumps, GM Record High

All three major U.S. indices finished modestly higher on Tuesday.

The House of Representatives continued its quest to oust President Donald Trump in the final days of his presidency. Meanwhile, the FBI has opened at least 160 cases in relation to last week’s deadly siege on the Capitol. The Joint Chiefs of Staff issued a letter vowing to help facilitate the peaceful transfer of power to President-elect Joe Biden.

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The Dow Jones Industrial Average rose 60 points, or nearly 0.2%, to finish at 31,068.

DoorDash soars. Shares of food delivery giant DoorDash (ticker: DASH), which went public in December, added nearly 15% on Tuesday, despite no new catalyst on the horizon. It appears to be an extension of a three-day rally that began on Friday after news broke that DoorDash is hiring in Japan — a virtually untapped market where 95% of restaurants aren’t equipped with home delivery services.

GM jumps — still not approaching Tesla. General Motors ( GM) stock surged Tuesday, jumping nearly 6.3% and hitting an all-time high after unveiling a new electric-powered van and plans for, yes, a flying car.

Although both products were unveiled as computer renderings, the van will debut later this year, with its first models being sold to FedEx ( FDX).

Even after Tuesday’s rally, GM’s market capitalization stands at less than $68.4 billion, or roughly 8.4% of Tesla’s ( TSLA) $805 billion valuation.

The Icarus of OTC stocks. Shares for the over-the-counter stock Signal Advance (SIGL), which soared after Elon Musk tweeted “Use Signal,” started falling back to earth Tuesday.

Shares of the obscure device-maker — which Musk was not referring to — plunged 74% on Tuesday, closing at $10 a share. Musk was referring to the encrypted messaging app, which is not public.

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