Grubhub Lost 35% Last Year. Will It Be Cut in Half in 2020?
Even with the near-50% rally Grubhub (NYSE: GRUB) staged at the end of the year, 2019 was not good for investors in the food delivery specialist -- who still lost more than a third of their investment. Yet it was mostly a disastrous third quarter earnings report, where revenue failed to meet expectations, and guidance for the fourth that was well below what was forecast that caused much of Grubhub's stock decline. All told, shares fell more than 40% in one day.
Although the stock has made up much of the loss that day, Grubhub still trades below where it was before the earnings report and even some in the food industry don't see much hope for long-term recovery for the food delivery leader -- or others in the space, for that matter.
Image source: Grubhub.
Source Fool.com
