New evidence has emerged that suggests that Dr. Anthony Fauci not only initiated efforts to cover up evidence pointing to a lab origin of SARS-CoV-2 but actively shaped a highly influential academic paper that excluded the possibility of a lab leak.
Fauci’s involvement with the paper wasn’t acknowledged by the authors, as it should have been under prevailing academic standards. Neither was it acknowledged by Fauci himself, who denied having communicated with the authors when asked directly while testifying before Congress last week.
The article, Proximal Origin, was co-authored by five virologists, four of whom participated in a Feb. 1, 2020, teleconference that was hastily convened by Fauci, who serves as director of the National Institute of Allergy and Infectious Diseases (NIAID), and Jeremy Farrar, who heads the UK-based Wellcome Trust, after public reporting of a potential link between the Wuhan Institute of Virology in China and the COVID-19 outbreak.
The initial draft of Proximal Origin was completed on the same day the teleconference, which wasn’t made public, took place. Notably, at least three authors of the paper were privately telling Fauci’s teleconference group both during the call and in subsequent emails that they were 60 to 80 percent sure that COVID-19 had come out of a lab.
Until now, it wasn’t known what role, if any, Fauci played in shaping the contents of the article, which formed the primary basis for government officials and media organizations to claim the “natural origin” theory for the virus. While the contents of emails previously released under the Freedom of Information Act (FOIA) show the Proximal Origin paper clearly conflicts with the authors’ private views on the virus’ origin, it was unclear if the authors had preemptively reshaped their views to please Fauci or if Fauci himself had an active role in shaping the article.
As the head of NIAID, Fauci controls a large portion of the world’s research funds for virologists. At least three virologists involved in the drafting of Proximal Origin have seen substantial increases in funding from the agency since the paper was first published. Any interference by Fauci in the paper’s narrative would present a serious conflict of interest.
Emails Show That Fauci, Collins Exerted Influence
Newly released notes taken by House Republican staffers from emails that still remain largely redacted clearly point to Fauci having been actively engaged in shaping the article and its conclusion. The GOP lawmakers gained limited access to the emails after a months-long battle with Fauci’s parent body, the Department of Health and Human Services.
The new emails reveal that on Feb. 4, 2020, one of the article’s co-authors, virologist Edward Holmes, shared a draft of Proximal Origin with Farrar. Like Fauci, Farrar controls the disbursement of vast amounts of funding for virology research.
Holmes prefaced his email to Farrar with the note that the authors “did not mention other anomalies as this will make us look like loons.” It isn’t known what other anomalies Holmes was referring to, but his statement indicates that Proximal Origin may have omitted certain anomalies of the SARS-CoV-2 virus, suggesting that the paper may have been narrative-driven from the start.
Dr. Anthony Fauci (R), director of the National Institute of Allergy and Infectious Diseases, speaks while U.S. President Donald Trump (C) and Vice President Mike Pence listen during a briefing on the coronavirus pandemic, in the press briefing room of the White House on March 24, 2020. (Drew Angerer/Getty Images)
During Fauci’s teleconference, participants had discussed at least two anomalies specific to the virus—the virus’s furin cleavage site, which has never been observed in naturally occurring SARS coronaviruses, and the pathogen’s unusual backbone, which fails to match any known virus backbone.
Farrar almost immediately shared Holmes’s draft with Fauci and Collins via email, while excluding other participants of the teleconference. The ensuing email thread containing discussion among the three suggests that the reason for the secretiveness may have been that they were shaping the content of the paper itself, something that has never been publicly acknowledged.
It’s notable that the email thread included only the three senior members of the teleconference. Using Farrar as a conduit to communicate with the authors may have been seen by Fauci and Collins as adding a layer of deniability.
Fauci, Collins Express Concern Over ‘Serial Passage’
During a Feb. 4, 2020, email exchange among the men, Collins pointed out that Proximal Origin argued against an engineered virus but that serial passage was “still an option” in the draft. Fauci appeared to share Collins’s concerns, noting in a one-line response: “?? Serial passage in ACE2-transgenic mice.”
Serial passage is a process whereby a virus is manipulated in a lab by repeatedly passing it through human-like tissue such as genetically modified mice, which mimic human lung tissue. This is notable given that during the Feb. 1 teleconference, at least three of Proximal Origin’s authors had advised Collins and Fauci that the virus may have been manipulated in a lab through serial passage or by genetic insertion of certain features.
Then-National Institutes of Health Director Dr. Francis Collins stands in Bethesda, Md., on Jan. 26, 2021. Collins stepped down in December 2021. (Brendan Smialowski/AFP via Getty Images)
One day after Fauci and Collins shared their comments, on Feb. 5, 2020, Farrar emailed Fauci and Collins stating that “[t]he team will update the draft today and I will forward immediately—they will add further comments on the glycans.”
The reference to glycans is notable as they are carbohydrate-based polymers produced by humans. The push by Fauci, Collins, and Farrar to have the paper’s authors expand on the issue of glycans appears to confirm that they were exerting direct influence on the content of Proximal Origin.
According to Rossana Segreto, a microbiologist and member of the virus origins search group DRASTIC, emphasizing the presence of glycans in SARS-CoV-2 might suggest that Fauci and his group were looking to add arguments against serial passage in the lab. A study later found that Proximal Origin’s prediction on the presence of the O-linked glycans wasn’t valid.
The newly released emails don’t reveal what additional discussions may have taken place among Fauci, Collins, and Farrar in the ensuing days. Perhaps that’s partly because Farrar had noted on another email thread addressed to Fauci’s teleconference group that scientific discussions should be taken offline.
Online Version Appears to Incorporate Fauci, Collins Suggestions
Eleven days later, on Feb. 16, 2020, Proximal Origin was published online. The paper argued aggressively for a natural origin of SARS-CoV-2.
An immediate observation from an examination of the Feb. 16 version of Proximal Origin is that “glycans,” the term that Farrar, Fauci and Collins wanted to emphasize, is cited 12 times. We don’t know to what extent glycans were discussed in the Feb. 4 draft as it remains concealed by National Institute of Health (NIH) officials.
An item of particular significance is that the Feb. 16 version omits any mention of the ACE2-transgenic mice that Fauci had initially flagged in his Feb. 4 email to Collins and Farrar. While the Feb. 16 version of Proximal Origin acknowledges that a furin cleavage site could have been generated through serial passage using animals with ACE2 receptors, the cited animals in the Feb. 16 version were ferrets—not transgenic mice.
The P4 laboratory on the campus of the Wuhan Institute of Virology in Wuhan, Hubei Province, China, on May 13, 2020. (Hector Retamal/AFP via Getty Images)
The authors’ use of ferrets is peculiar not only because the term “transgenic mice” was almost certainly used in the Feb. 4 version but also because it was known at the time that the Wuhan Institute of Virology was conducting serial passage experiments on coronaviruses using ACE2 transgenic mice.
Even more conspicuously, the reference to ferrets was removed entirely from a March 17 updated version of the paper. In its place, a passage was added that stated “such work [serial passage experiments with ACE2 animals] has also not previously been described,” in academic literature—despite the fact that the Wuhan Institute’s work with ACE2 transgenic mice has been extensively described in academic papers.
Published Version of Proximal Origin Was Altered
Following the online publication of Proximal Origin on Feb. 16, 2020, the article was published in the prominent science journal Nature on March 17. In addition to the changes surrounding the transgenic mice, a number of other notable edits were made to strengthen the natural origin narrative.
On March 6, 2020, the paper’s lead author, Kristian Andersen, appeared to acknowledge the inputs from Collins, Farrar, and Fauci, when he emailed the three to say, “Thank you again for your advice and leadership as we have been working through the SARS-CoV-2 ‘origins’ paper.”
Perhaps most strikingly, the most often publicly cited passage from the March 17 version of the paper, “we do not believe that any type of laboratory-based scenario is plausible,” doesn’t appear in the Feb. 16 version. Additionally, while the Feb. 16 version states that “genomic evidence does not support the idea that SARS-CoV-2 is a laboratory construct” the March 17 version was altered to state that “the evidence shows that SARS-CoV-2 is not a purposefully manipulated virus.”
Similar changes in language are evident in various parts of the March 17 version. For example, a section that stated “analysis provides evidence that SARS-CoV-2 is not a laboratory construct” was amended to read “analyses clearly show that SARS-CoV-2 is not a laboratory construct.”
A medical staff member gestures inside an isolation ward at Red Cross Hospital in Wuhan in China’s Hubei Province on March 10, 2020. (STR/AFP via Getty Images)
The March 17 version also omits an entire section from the Feb. 16 version that centered around an amino acid called phenylalanine. According to Segreto, a similarly situated amino acid in the original SARS virus had “mutated into phenylalanine as result of cell passage in human airway epithelium.” Segreto surmises that the Proximal Origin authors might have deleted this section so as not to highlight that the phenylalanine in SARS-CoV-2 might have resulted from serial passage in a lab.
Segreto’s analysis is backed up by the fact that another section in the Feb. 16 version which states that “experiments with [the original] SARS-CoV have shown that engineering such a site at the S1/S2 junction enhances cell–cell fusion,” was reworded in the March 17 version to leave out the word “engineering.” Indeed, while the Feb. 16 version merely downplayed the possibility of the virus having been engineered in a lab, in the March 17 version, the word “engineered” was expunged from the paper altogether.
Another sentence omitted from the March 17 version noted that “[i]nterestingly, 200 residents of Wuhan did not show coronavirus seroreactivity.” Had the sentence remained, it would have suggested that, unlike other regions in China, no SARS-related viruses were circulating in Wuhan in the years leading up to the pandemic. That makes natural spillover less likely. The director of the Wuhan Institute of Virology, Shi Zhengli, herself admitted that she never expected a SARS-related virus to emerge in Wuhan. When viruses emerged naturally in the past, they emerged in southern China.
Shi’s credibility already was coming under fire for failing to disclose that she had the closest known relative of SARS-CoV-2 in her possession for seven years—a point noted early on by Segreto. Additionally, the Wuhan Institute took its entire database of viral sequences offline on Sept. 12, 2019. Despite the Wuhan Institute’s documented deletion and concealment of data, Proximal Origin’s central argument is that SARS-CoV-2 had to be natural since its backbone didn’t match any known backbones.
However, even before the March 17 version was published, Segreto had stated publicly that Proximal Origin’s central backbone argument was inherently flawed, precisely because there was no way of knowing whether the Chinese lab had published the relevant viral sequences.
Fauci, Collins, Farrar Roles Improperly Concealed
The email exchange among Fauci, Farrar, and Collins presents clear evidence that the three men took an active role in shaping the narrative of Proximal Origin. Indeed, a careful comparison of the Feb. 16 and March 17 versions show that the changes made fail to reflect any fundamental change in scientific analysis.
Instead, the authors employed linguistic changes and wholesale deletions that appear to have been designed to reinforce the natural origin narrative.
Close scrutiny of the email discussions by the three scientists also suggests that there was no legal justification for redacting any of the newly released information in the first place.
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, talks to members of the press prior to an event at the State Dining Room of the White House on Jan. 21, 2021. (Alex Wong/Getty Images)
Science journals require that contributions to scientific papers need to be acknowledged. According to Nature’s publishing guidelines, “[c]ontributors who do not meet all criteria for authorship should be listed in the Acknowledgements section.” The newly revealed sections of the still-redacted emails appear to confirm that Fauci, Farrar, and Collins met the criteria for acknowledgement but their names have never appeared on any published version of Proximal Origin, suggesting that the three didn’t want their involvement in the paper’s creation to be known.
Collins Asked Fauci ‘to Help Put Down’ Fox News Story
A final email released by the House Republicans shows that Collins wrote Fauci several months later on April 16, 2020, telling him that he had hoped that Proximal Origin would have “settled” the origin debate, but it apparently hadn’t since Bret Baier of Fox News was reporting that sources were confident the virus had come out of a lab.
Collins asked Fauci whether the NIH could do something “to help put down this very destructive conspiracy” that seemed to be “growing momentum.” Collins also suggested that he and Fauci ask the National Academy of Sciences, Engineering, and Medicine (NASEM) to weigh in. As was revealed in previous emails released under FOIA, Fauci’s group had pushed NASEM in early Feb. 2020 to promote the natural origin narrative.
Fauci told Collins that the lab leak theory was a “shiny object” that would go away in time. However, the next day, Fauci took responsive action when he categorically dismissed the possibility of a lab origin of COVID-19 during on April 17, 2020, White House press conference. In doing so, Fauci cited the Proximal Origin paper as corroboration of his claims. Notably, Fauci feigned independence, telling reporters that he couldn’t recall the names of the authors. Unbeknownst to reporters and the public at the time, four out of the five authors had participated in Fauci’s Feb. 1, 2020, teleconference.
Now, we know that Fauci had involvement in shaping the very article that he cited.
Fauci’s intervention at the April 17 White House briefing was effective, since media interest in the lab leak theory quickly waned. It didn’t resurface until May 2021, when former New York Times science writer Nicholas Wade published an article discussing the likelihood of a lab leak. Wade noted that “[a] virologist keen to continue his career would be very attentive to Fauci’s and Farrar’s wishes.”
Notably, Segreto had raised a similar concern after Proximal Origin was first published in February 2020, asking whether certain virologists were scared that if the truth came out, their research activities would be curtailed.
The State of Democracy In Each Region Of the World
The state of democracy has dropped from an average global score of 5.37 to 5.28, the biggest drop since 2010 after the global financial crisis which translates…
The world’s (almost) eight billion people live under a wide variety of political and cultural circumstances…[that] can be measured and presented on a sliding scale between “free” (democracy) and “not free” (authoritarian) and the…Democracy Index report by the Economist Intelligence Unit (EIU), is one such attempt to apply a score to countries based on how closely they measure up to democratic ideals.
According to EIU, the state of democracy is at its lowest point since the index began in 2006, dropping from an average global score of 5.37 to 5.28, the biggest drop since 2010 after the global financial crisis….[which] translates into the sobering fact that only 46% of the population is living in a democracy “of some sort.”
Below is a look at the democratic state of each region in the world:
Middle East and Central Asia
East Asia and Oceania
Decline in Global Democracy Levels
Two years after the world got hit by the pandemic, we can see that global democracy is in a downward trend with very region’s global score experiencing a drop, with the exception of Western Europe, which remained flat. Out of the 167 countries, 74 (44%) experienced a decline in their democracy score.
Editor’s Note: The above article is an edited and abridged version of the original post on visualcapitalist.com by Nick Routley and graphics design by Sabrina Fortin.africa europe pandemic
After mass shootings like Uvalde, national gun control fails – but states often loosen gun laws
After mass shootings, politicians in Washington have failed to pass new gun control legislation, despite public pressure. But laws are being passed at…
Calls for new gun legislation that previously failed to pass Congress are being raised again after the May 24, 2022, mass shooting at an elementary school in the small town of Uvalde, Texas.
The U.S. has been here before – after shootings in Tucson, Aurora, Newtown, Charleston, Roseburg, San Bernardino, Orlando, Las Vegas, Parkland, El Paso, Boulder, and 12 days earlier at a grocery store in Buffalo, N.Y.
Senator Chris Murphy of Connecticut was among the Democratic politicians who pleaded for action on gun control as horrifying details of the Uvalde school shooting unfolded.
“What are we doing?” Murphy asked other lawmakers, speaking from the Senate floor on the day of the shooting. “Why are you here if not to solve a problem as existential as this?”
Congress has declined to pass significant new gun legislation after dozens of shootings, including those that occurred during periods like this one, with Democrats controlling the House of Representatives, Senate and presidency.
This response may seem puzzling given that national opinion polls reveal extensive support for several gun control policies, including expanding background checks and banning assault weapons.
In October 2021, 52% of people polled by Gallup said that they thought firearm sales laws should be made more strict.
I am a professor of strategy at UCLA and have researched gun policy. With my co-authors at Harvard University, I’ve studied how gun laws change following mass shootings.
Our research on this topic finds there is legislative activity following these tragedies, but it’s at the state level.
Stricter gun laws at the national level are more popular among Democrats than Republicans, and major new legislation would likely need votes from at least 10 Republican senators. Many of these senators represent constituencies opposed to gun control.
Despite national polls showing majority support for an assault weapons ban, not one of the 30 states with a Republican-controlled legislature has such a policy.
U.S. Texas Senator Ted Cruz said on May 24 that more gun control laws could not have prevented the Uvalde attack, explaining “that doesn’t work, it’s not effective, it doesn’t prevent crime.”
The absence of strict control policies in Republican-controlled states shows that senators crossing party lines to support gun control would be out of step with the views of voters whose support they need to win elections.
But a lack of action from Congress doesn’t mean gun laws are stagnant after mass shootings.
To examine how policy changes, we assembled data on shootings and gun legislation in the 50 states between 1990 and 2014. Overall, we identified more than 20,000 firearm bills and nearly 3,200 enacted laws. Some of these loosened gun restrictions, others tightened them, and still others did neither or both – that is, tightened in some dimensions but loosened in others.
We then compared gun laws before and after mass shootings in states where mass shootings occurred, relative to all other states.
Contrary to the view that nothing changes, state legislatures consider 15% more firearm bills the year after a mass shooting. Deadlier shootings – which receive more media attention – have larger effects.
In fact, mass shootings have a greater influence on lawmakers than other homicides, even though they account for less than 1% of gun deaths in the United States.
As impressive as this 15% increase in gun bills may sound, gun legislation can reduce gun violence only if it becomes law. And when it comes to enacting these bills into law, our research found that mass shootings do not regularly cause lawmakers to tighten gun restrictions.
In fact, we found the opposite. Republican state legislatures pass significantly more gun laws that loosen restrictions on firearms after mass shootings.
In 2021, Texas Governor Greg Abbott signed a new law that eliminated a requirement for Texans to obtain a license or receive training to carry handguns. This came two years after a 2019 mass shooting at a Walmart in El Paso.
That’s not to say Democrats never tighten gun laws – there are prominent examples of Democratic-controlled states passing new legislation following mass shootings.
California, for example, enacted several new gun laws following a 2015 mass shooting in San Bernardino. Our research shows, however, that Democrats don’t tighten gun laws more than usual following mass shootings.
After the Buffalo shooting in early May 2022, New York Governor Kathy Hochul said that she would work to increase the age for legal gun purchasing from 18 to 21 “at a minimum.”
Ideology governs response
The contrasting response from Democrats and Republicans is indicative of different philosophies regarding the causes of gun violence and the best ways to reduce deaths.
While Democrats tend to view social factors as contributing to violence, Republicans are more likely to blame the individual shooters.
Cruz, for example, has said that stopping individuals with criminal records from committing violence could help prevent mass shootings.
Politicians favoring looser restrictions on guns following mass shootings frequently argue that more people carrying guns would allow law-abiding citizens to stop perpetrators.
In fact, gun sales often surge after mass shootings, in part because people fear being victimized.
Democrats, in contrast, typically focus more on trying to solve policy and societal problems that contribute to gun violence.
For both sides, mass shootings are an opportunity to propose bills consistent with their ideology.
Since we wrote our study of gun legislation following mass shootings, which covered the period through 2014, several additional tragedies have energized the gun control movement that emerged following the December 2012 shooting at Sandy Hook Elementary School in Connecticut. These include the May 2022 shooting at the Tops grocery store in Buffalo, as well as the Uvalde school massacre.
Student activism following the 2018 shooting at Marjory Stoneman Douglas High School in Parkland, Florida, did not result in congressional action but led several states to pass new gun control laws.
With more funding and better organization, this new movement is better positioned than prior gun control movements to advocate for stricter gun policies following mass shootings. Public outcry and devastation over the Uvalde shootings will likely provide fuel to this advocacy work.
But with states historically more active than Congress on the issue of guns, both advocates and opponents of new restrictions should look beyond Washington for action on gun policy.
This is an updated version of an article originally published on March 21, 2021.
Christopher Poliquin does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.congress senate house of representatives governor pandemic covid-19 deaths
5 Top Consumer Stocks To Watch Right Now
Are these consumer stocks a buy amid the earnings season?
The post 5 Top Consumer Stocks To Watch Right Now appeared first on Stock Market News, Quotes,…
5 Trending Consumer Stocks To Watch In The Stock Market Now
As we tread through the earnings season, consumer stocks could be worth watching in the stock market this week. This would be the case since a number of big consumer names such as Costco (NASDAQ: COST) and Macy’s (NYSE: M) will be posting their financials for the quarter. As such, investors will be keeping an eye on these reports for clues on the strength of consumer spending amid this period of high inflation.
However, despite the soaring prices across the economy, it seems that consumers are surprisingly showing resilience. According to the Commerce Department, retail sales in April outpaced inflation for a fourth straight month. This could suggest that consumers as a whole were not only sustaining their spending, but spending more even after adjusting for inflation. Ultimately, it could be a reassuring sign that consumers are still supporting the economy and helping to diminish the narrative of an incoming recession. With that being said, here are five consumer stocks to check out in the stock market today.
Consumer Stocks To Buy [Or Sell] Right Now
- Nordstrom Inc. (NYSE: JWN)
- The Wendy’s Company (NASDAQ: WEN)
- Foot Locker Inc. (NYSE: FL)
- Tyson Foods Inc. (NYSE: TSN)
- DoorDash Inc. (NYSE: DASH)
Starting off our list of consumer stocks today is Nordstrom. For the most part, it is a fashion retailer of full-line luxury apparel, footwear, accessories, and cosmetics among others. The company operates through multiple retail channels, boutiques, and online as well. As it stands, Nordstrom operates around 100 stores in 32 states in the U.S. and three Canadian provinces.
Yesterday, the company reported its financials for the first quarter of 2022. Starting with revenue, Nordstrom pulled in net sales worth $3.47 million for the quarter. This marks an increase of 18.7% from the same quarter last year. Its Nordstrom banner saw net sales rise by 23.5% year-over-year, exceeding pre-pandemic levels. Next to that, its Nordstrom Rack banner saw a 10.3% increase in net sales from last year. Besides, net earnings were $20 million, with earnings per share of $0.13 for the quarter. Considering Nordstrom’s solid quarter, should you invest in JWN stock?
The Wendy’s Company
Next up, we have The Wendy’s Company. For the most part, it is the holding company for the major fast-food chain, Wendy’s. Being one of the world’s largest hamburger fast-food chains, the company boasts over 6,500 restaurants in the U.S. and 29 other countries. The chain is known for its square hamburgers, sea salt fries, and the Frosty, a form of soft-serve ice cream mixed with starches. WEN stock is rising by over 8% on today’s opening bell.
According to an SEC filing, Wendy’s largest shareholder, Trian Partners, is looking into making a potential deal with the company. Trian said that it is considering a deal to “enhance shareholder value.” Also, the firm adds that this could lead to an acquisition or business combination. In response, Wendy’s stated that it is constantly reviewing strategic priorities and opportunities. It added that the company’s board will carefully review any proposal from Trian. Given this piece of news, will you be watching WEN stock?
Another stock investors could be watching is the shoes and apparel company, Foot Locker. In brief, the company uses its omnichannel capabilities to bridge the digital world and physical stores. As such, it provides buy online and pickup-in-store services, order-in-store, as well as the growing trend of e-commerce. Some of its most notable brands include Eastbay, Footaction, Foot Locker, Champs Sports, and Sidestep. Last week, the company reported its results for the first quarter of the year.
For starters, total sales came in at $2.175 billion, a slight uptick compared to sales of $2.153 billion in the year prior. Next to that, Foot Locker reported a net income of $133 million. Accordingly, adjusted earnings per share came in at $1.60, beating Wall Street’s expectations of $1.54. CEO Richard Johnson added, “Our progress in broadening and enriching our assortment continues to meet our customers’ demand for choice. These efforts helped drive our strong results in the first quarter, which will allow us to more fully participate in the robust growth of our category going forward.” As such, is FL stock one to add to your watchlist?
Tyson Foods is a company that built its name on providing families with wholesome and great-tasting protein products. Its segments include Beef, Pork, Chicken, and Prepared Foods. With some of the fastest-growing portfolio of protein-centric brands, it should not be surprising that TSN stock often comes to mind when investors are looking for the best consumer stocks to buy.
Earlier this month, Tyson Foods provided its fiscal second-quarter financial update. The company’s total sales for the quarter were $13.1 billion, representing an increase of 15.9% compared to the prior year’s quarter. Meanwhile, its GAAP earnings per share climbed to $2.28, up 75% year-over-year. According to Tyson, these financial figures are a reflection of the increasing consumer demand for its brands and products. To top it off, the company was also able to reduce its total debt by approximately $1 billion. Thus, does TSN stock have a spot on your watchlist?
DoorDash is a consumer company that operates an online food ordering and delivery platform. In fact, it is one of the largest delivery companies in the U.S. and enjoys a huge market share. The company connects hundreds of thousands of merchants to over 25 million consumers in the U.S., Canada, Australia, and Japan through its local logistics platform. Accordingly, its platform allows local businesses to thrive in today’s “convenience economy,” as the company puts it.
On May 5, the company reported its first-quarter financials for 2022. Diving in, it posted a revenue of $1.5 billion, growing by 35% year-over-year. This was driven by total orders that grew by 23% year-over-year to $404 million. Along with that, it reported a GAAP gross profit of $662 million, an increase of 34% year-over-year. The company said that it added more consumers than any quarter since Q1 2021, due in part to the growth of its DashPass members. The growth in Monthly Active Users and average order frequency has helped it gain share in the U.S. Food Delivery category this quarter as well. Given DoorDash’s performance for the quarter, should you watch DASH stock?
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