Will Grubhub Be a Tastier Morsel for Investors Once Its Acquisition Closes?
Online ordering and food-delivery company Grubhub (NYSE: GRUB) reported its second-quarter 2020 results on July 30, highlighting spectacular gross food sales for partner restaurants, explosive growth in diners and "Daily Average Grubs," and other positive, coronavirus-driven metrics. If Grubhub can't achieve a net profit even with COVID-19's tremendous delivery sales boost, can it turn profitable once it merges with Just Eat Takeaway (OTC: TKAY.Y)? The deal inked earlier this year will result in Grubhub's merging with Just Eat in an all-stock deal worth $7.3 billion.