Stock Alert: Grubhub Rises To New 52-week High

Shares of food delivery company Grubhub Inc. (GRUB) are rising more than 5 percent or $4.00 in Wednesday's morning trade at $79.82, after touching a new 52-week high of $80.23.

Grubhub had said in June that it agreed to be acquired by European peer Just Eat Takeaway.com N.V. (JET.L) in an all-stock transaction valued at $7.3 billion.

Wednesday, Just Eat Takeaway.com reported 46 percent growth in orders for the third quarter to $151.4 million, and said it is well positioned for autumn and winter, its traditional growth season. Just Eat also said its acquisition of Grubhub was approved by the Extraordinary General Meeting on October 7 and that the deal is expected to be completed in the first half of 2021.

Grubhub has traded in a range of $29.35 to $80.23 in the past 52 weeks.

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