What happened Shares of GrubHub (NYSE: GRUB)have tanked today, down by 9% as of 12:30 p.m. EDT, after the company provided updates and commentary about the COVID-19 impacts it is experiencing. The popular food-delivery platform also withdrew its full-year 2020 guidance.
What is going on with Grubhub stock?
The Amsterdam-based delivery provider said Tuesday that it will delist from the Nasdaq stock exchange sometime in the first quarter of 2022. It cited its low share price and the low percentage of its total shares held on Nasdaq (about 3.7%).
Why did Grubhub stock drop so much?
The immense competition from companies such as Uber Eats (UBER), Delivery Hero, Postmates, and DoorDash (DASH) caused Grubhub's market share to drop significantly within the last years, with gross margins declining accordingly.
Is Grub a good stock to buy?
GrubHub Inc (NYSE:GRUB) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for GRUB is 59.1.
Is Grub delisted?
By company decision, Just Eat Takeaway.com (GRUB) will be delisted from US exchanges. The anticipated delisting date is March 14th, 2022. As such, you may not be able to sell Just Eat Takeaway.com after market close on March 11th, 2022.
How did Grubhub lose market share?
2:209:27How Grubhub Lost its 50% Market Share in The Food Delivery App WarYouTubeStart of suggested clipEnd of suggested clipAnd gone slow. And ultimately decided to only bet on markets it could be first or second which meantMoreAnd gone slow. And ultimately decided to only bet on markets it could be first or second which meant they drove it up to 20 market share not worried about the market share of everywhere.
Is Grubhub being sold?
Following months of speculation and activist investor tumult, Amsterdam-based Just Eat Takeaway.com announced its intent to sell Grubhub or explore introducing a strategic partner less than a year after completing its $7.3 billion acquisition of the third-largest U.S. third-party delivery provider.
Which is better door dash or Grubhub?
DoorDash is the biggest food delivery service in many major cities in America, holding 55% of the current market share. That's why Dashers are often more likely to get higher earnings than Grubhub drivers. Grubhub holds just 17% of the market share.
Who is Grubhub owned by?
Just Eat TakeawayGrubhubFormerlyGrubHub Seamless Inc. (2013–2014)Total equityUS$1.49 billion (2019)Number of employees2,773 (Jan. 22, 2020)ParentJust Eat TakeawaySubsidiariesBiteGrabber Eat24 LevelUp Seamless Tapingo OrderUp15 more rows
How profitable is Grubhub?
Even with this loss of marketshare, Grubhub has continued to generate more revenue every year since going public. It has climbed from $500 million in 2016 to $1.8 billion in 2020.
What happens to stocks if they are delisted?
If a company has been delisted, it is no longer trading on a major exchange, but the stockholders are not stripped of their status as owners. The stock still exists, and they still own the shares; however, delisting often results in a significant or total devaluing of a company's share value.
Is Grubhub owned by seamless?
Seamless is a part of the Grubhub Inc. portfolio of brands.
When did Grubhub delist?
The company announced the delisting last Tuesday (Feb. 8). At the time, Groen said it was a “cost-reduction measure” and that Just Eat is looking into various strategies for Grubhub's future.
Which is better door dash or Grubhub?
DoorDash is the biggest food delivery service in many major cities in America, holding 55% of the current market share. That's why Dashers are often more likely to get higher earnings than Grubhub drivers. Grubhub holds just 17% of the market share.
Is Grubhub owned by seamless?
Seamless is a part of the Grubhub Inc. portfolio of brands.
How much is Grubhub worth?
What started as a simple way to order food from Chicago restaurants has grown into an online food-delivery empire worth over $4 billion.
Who did Grubhub merger with?
Just Eat Takeaway.com N.V.Just Eat Takeaway.com N.V. (AMS: TKWY, LSE: JET, NASDAQ: GRUB), hereafter the "Company" or "Just Eat Takeaway.com", and Grubhub Inc. (NYSE: GRUB) ("Grubhub") are pleased to announce the completion of the Company's acquisition of 100% of the shares of Grubhub in an all-share combination (the "Transaction").