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Why Grubhub Stock Rose 19% in May

TheMotleyFool

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Why Grubhub Stock Rose 19% in MayPhoto, wide shot, wide-angle lens, Grocery store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/9a6c3fc6-53ff-4c6e-848b-263660ac3eb0.png

Shares of Grubhub (NYSE: GRUB) jumped last month as news broke that Uber (NYSE: UBER) was interested in acquiring the restaurant-takeout marketplace. Such a deal, which has not gone through, would mean a combination between the #2 (Grubhub) and #3 (Uber Eats) restaurant-delivery companies, posing a challenge to DoorDash's leadership.

Whether a deal goes through remains to be seen, but the news sent Grubhub stock up 19% last month, according to data from S&P Global Market Intelligence. As you can see from the chart below, the gains came entirely when reports of the talks broke, but Grubhub shares held most of the gains through the rest of May.