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Why Grubhub Stock Tanked Today

TheMotleyFool

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Shares of GrubHub (NYSE: GRUB) have tanked today, down by 9% as of 12:30 p.m. EDT, after the company provided updates and commentary about the COVID-19 impacts it is experiencing. The popular food-delivery platform also withdrew its full-year 2020 guidance.

Grubhub expects revenue and adjusted EBITDA in the first quarter to be "slightly above the midpoints" of the outlook it provided in February. The midpoints of guidance for those metrics are $360 million in revenue and $20 million in adjusted EBITDA.

Image source: Grubhub.

Source Fool.com

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