Grubhub shares crumbled as the company said it will have to adapt to a changing and more competitive industry WSJWhatsNow
Investors received Grubhub’s third-quarter results Monday like they might if their grandma suddenly told them she’d changed her famous meatloaf recipe, announcing future batches would now be vegan and potentially more expensive to make.
The result was destabilizing to say the least: The food-delivery company’s shares lost 40% of their value in early trading Tuesday.
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