|Bid||0.0000 x 34100|
|Ask||0.4107 x 800|
|Day's Range||0.3450 - 0.3900|
|52 Week Range||0.2130 - 14.7700|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The parent company of Bite Squad plans to lay off the food-delivery service’s employee drivers within the next six weeks, intending to convert them into independent contractors. Based in Minneapolis, Bite Squad was purchased in 2019 for $321 million by Waitr Holdings Inc. (Nasdaq: WTRH) of Lafayette, La. The company previously announced plans to lay off about 2,300 drivers in Louisiana in an effort to convert those employees to independent contractors, and Waitr spokesperson Dean Turcol confirmed Tuesday that the company is planning to do the same with its Bite Squad drivers in Minnesota.
A Louisiana-based food ordering and delivery platform with ties to Houston billionaire Tilman Fertitta recently saw a shakeup in its C-suite. Adam Price resigned as CEO of Lafayette, Louisiana-based Waitr Holdings Inc. (Nasdaq: WTRH) on Dec. 27, 2019, according to a Jan. 3 filing with the U.S. Securities and Exchange Commission. In August, Price assumed leadership duties from Chris Meaux, founder and former CEO of Waitr, who became chairman of the board of directors.
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]
Waitr Holdings, the Louisiana company that acquired Minneapolis-based online restaurant-delivery service Bite Squad a year ago for $321 million, is making deep cuts to its Twin Cities staff.
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the second quarter. You can find write-ups about an individual hedge fund's trades on numerous financial […]
Grubhub's (GRUB) expanding partner base and aggressive acquisition strategy are likely to help it effectively counter stiff competition from DoorDash, Uber and Waitr.
We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...
Last week, DoorDash, one of America's largest food delivery companies, announced that it was buying Square's (NYSE:SQ) food delivery business, Caviar. Incredibly, DoorDash is paying just $410 million for Caviar. This is terrible news for Uber Technologies, Inc. (NYSE:UBER) and other companies in the food delivery space.Source: Shutterstock It adds to a series of other problems Uber has been having lately. These include permit issues in London, layoffs, and a report suggesting that ride-sharing services make traffic congestion worse. There's a lot going on with UBER stock and Uber stock price, and it's not good news. A Fire SaleIf you're tempted to dismiss the importance of this situation, think again. Caviar was supposed to be a nice opportunity for Square. Analysts had modeled Caviar and Square's food platform as a meaningful value driver in coming years. Since announcing the Caviar sale last week, SQ stock has plummeted from $81 to just $64.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat's because Square ended up dumping Caviar for just $410 million. That's peanuts. In fact, it was less than 2% of Square's market cap. Industry leader GrubHub (NASDAQ:GRUB) is valued at more than $6 billion. What can we take away from this? * 10 Stocks to Buy on the Trade War Dip Square was willing to give Caviar away for next to nothing simply to stop the bleeding. Square had previously tried to sell Caviar in 2016 but couldn't find a buyer at an agreeable price. Reportedly Square wanted to get rid of Caviar due to its excessive losses, and apparently decided it was finally time to bite the bullet and dump the property. Square didn't report Caviar's financials separately, so we don't know just how bad the overall financial performance was. Uber Stock: Public Versus Private Company DynamicsSquare's move to unload Caviar at any price is another demonstration of an important economic theme at the moment. If you're a private company funded with venture capital money, you can do anything you want right now. Want to buy millions of electric scooters that will end up inevitably getting thrown in dumpsters and lakes? Not a problem. Companies like Bird and Lime have gotten plenty of VC funding despite an absurd business model.But if you're Uber, you probably don't want to go into electric scooters to compete. Why's that? Because public investors actually care about profits and losses. Call them old-fashioned if you wish, but the public markets still look at business metrics other than the revenue growth rate. Square proved this by dumping a fast-growing business for barely any consideration at all.Square showed that a business that is losing gobs of money with no signs of imminent improvement is effectively less-than-worthless. It was better to get out altogether than keep taking losses, regardless of how much revenue it brought into Square overall.Uber stock may find that it faces similar problems in the new businesses that it has been trying to launch. When you're competing with venture capital folks who are willing to run massive losses indefinitely, it's hard for a company that is accountable to public shareholders to compete. What Becomes of Uber Eats?It's worth asking if investors have built too much optimism into UBER stock because of its ownership position in Uber Eats. Publicly-traded industry leader GrubHub has gotten walloped. GRUB's stock has lost half its value over the past year. Meanwhile, we saw what happened to Square stock last week as they announced the Caviar sale.Other competition is floundering as well. Smaller rival Waitr (NASDAQ:WTRH), which focuses on delivery in smaller urban areas, has gotten smashed. The stock has lost nearly two-thirds of its value recently, and will likely lose more going forward. If Caviar is only worth $310 million, is Waitr still worth $300 million? Almost certainly not. All these falling stock prices will make Uber stock owners question their valuations for the Uber Eats part of the business going forward. UBER Stock VerdictUBER stock investors already had reason to be nervous. Last week, Uber announced the layoffs of 400 members of its marketing team. And Uber didn't limit the cuts to the United States. It fired employees in places as far-flung as Colombia and Ghana. This is not a good sign at all, as Uber needs international growth to distinguish itself, particularly as long as Lyft (NASDAQ:LYFT) remains a pesky rival in the core American market.And now Square's efforts to dump Caviar call into question the value of Uber Eats. Square stock has long been highly-valued on the basis of future growth potential. That's just like UBER stock. Square's management just gave you a loud clear sign that it needs to focus on profits rather than revenue growth and the stock market reacted by furiously unloading Square's stock.If Uber goes down a similar path - and firing marketing employees is a troubling sign - it will greatly curtail Uber's blue sky potential going forward. I believe UBER stock has potential for long-term investors willing to endure a few years of losses. But if the market forces the company to pivot to profitability now, it could come at the loss of huge future markets such as food delivery and effect UBER stock price.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy on the Trade War Dip * The 5 Highest-Rated Dow Stocks Right Now * 4 Cybersecurity Stocks to Buy for Long-Term Gains The post Uber Stock Owners: Be Very Afraid of What Square Just Did appeared first on InvestorPlace.
Grubhub (GRUB) loses its top position in the U.S. online food delivery market to its nearest competitor DoorDash, per a recent report by Second Measure.
At Insider Monkey, we pore over the filings of nearly 750 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of March 31. In this […]
Shares of GrubHub (GRUB) popped today, closing slightly above 8% on news that Amazon.com???s (AMZN) food delivery competitor Amazon Restaurants was shutting down operations
Waitr Holdings Inc. (WTRH) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
The online food delivery industry is expected to reach $24.4 million by 2023 as companies like Uber, Grubhub and Waitr Holdings continue to compete for shareholders attention. Chris Meaux, the Waitr CEO, tells Yahoo Finance that his online food delivery company can reach profitability, if needed, "quicker than any other company in our space."