DoorDash (DASH) shares plummeted 5.01% in intraday trading on Wednesday, as investors reacted to the company's recent acquisition announcements and lower-than-expected Q2 profit forecast. The meal delivery giant has made bold moves to expand its global presence and enhance its operational capabilities, but the market appears to be cautious about the short-term impact on the company's financials.

In a significant strategic move, DoorDash announced its plan to acquire British rival Deliveroo in a deal valuing the latter at approximately 2.9 billion pounds ($3.85 billion). This acquisition is expected to broaden DoorDash's footprint in non-overlapping European and international markets. Additionally, the company revealed its intention to spend about $1.2 billion to purchase SevenRooms, a hospitality-related software company, which is anticipated to strengthen DoorDash's commerce platform capabilities.

While these acquisitions present long-term growth opportunities, DoorDash's forecast for second-quarter core profit fell largely below analysts' estimates. This outlook, combined with the substantial financial commitments for the acquisitions, appears to have prompted a sell-off. Several analysts have adjusted their price targets for DoorDash in response to these developments, with some expressing optimism about the company's future prospects despite the current market reaction. As DoorDash navigates these significant changes, investors will be closely watching how the company integrates its new acquisitions and manages its financial performance in the coming quarters.