Investing.com – Shares of food delivery company GrubHub (NYSE:GRUB) soared Wednesday afternoon following a report that it is looking for a deal that could include a sale.
The stock, halted once the news hit, jumped 12% when trading resumed.
GrubHub is speaking to financial advisers about strategic options, including a possible sale or acquisition, The Wall Street Journal reported, citing people familiar with the matter.
It’s also discussing what to do in case of interest in case an activist investor shows interest, the Journal said.
Even with today’s sharp rise, the stock is still down about 30% in the last year.