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Why Is Grubhub Rising Today?

TheMotleyFool

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Shares of Grubhub (NYSE: GRUB) were up more than 5% in late afternoon trading Wednesday as it rode the coattails of the initial public offering of DoorDash (NYSE: DASH), which itself soared 80% on its debut.

DoorDash hitting the market caused the whole sector to rise, with Uber Technologies (NYSE: UBER) and Lyft (NASDAQ: LYFT) also spiking higher initially, though all three rivals to the food delivery leader ended up giving back a good portion of their gains.

Image source: Grubhub.

Source Fool.com

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