The well known food delivery service. This firm operates an online marketplace globally, serving up cuisines ranging from pizza and kebab to sushi and Thai.
Any thoughts on why this stock is tanking? Thought they would still be doing well with the current lockdown
Well, I know locally (in my area) takeaways and businesses are trying to get away from Just Eat. Their fees are apparently taking as high as 20%.
Some places have gone to make their own app, others are transferring to Facebook’s order app, and others are offering better prices (or free delivery) if you take the time to e-mail/phone them as opposed to using Just Eat.
On top of this, UberEats have just moved into the area, though they also have an incredible markup, so they’re only using the big names (McDonalds, Burger King) at the moment, which funny enough, Just Eat doesn’t deliver to my house for those brands, but UberEats does.
Basically, Just Eat has gone a long way to being a bit naff from when they first started out back when I was a student, they were fantastic. Now, I think they’re pricing too hard (in some places) and I think we might see some fall out from this in the future.
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Poor cat…
The valuation reduction comes as Just Eat is trying to sell the delivery group as a result of the tumbling of Grubhub’s valuation.
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Looks like just eat are delisting on the London exchange. What happens with the shares? Will it be possible to buy via the Amsterdam exchange?