Domino's Pizza Stock Jumps After Inking a Deal With Uber
Shares of Domino's Pizza (NYSE: DPZ) jumped on Wednesday after the restaurant chain inked a delivery deal with Uber Technologies (NYSE: UBER). As of 10 a.m. ET today, Domino's stock was up about 10% and hitting new highs for 2023. For its part, Uber stock was completely flat as of this writing.
Therefore, the market clearly believes the new partnership is a bigger deal for Domino's than for Uber. This optimism may be fueled by the belief that this could add $1 billion in new sales for Domino's -- that's a lot of pizza.
Almost all restaurant chains allow for third-party delivery from marketplaces like DoorDash, Uber Eats, Grubhub, and more. And some chains have exclusive partnerships with certain providers. But a notable holdout has been Domino's. Until now, the pizza stock has kept everything related to delivery in-house.
Source Fool.com
Uber Technologies Inc Stock
The stock is one of the favorites of our community with 76 Buy predictions and 2 Sell predictions.
With a target price of 82 € there is a positive potential of 25.5% for Uber Technologies Inc compared to the current price of 65.34 €.
