The stock price of the country's largest food delivery service, Grubhub, are down more than 40% from the 12 month high.
Grubhub has been expanding aggressively by buying or merging with several other food delivery services including Seamless, Dish, LAbite and others. The company now controls more than a third of the US delivery market, just ahead of Uber Eats with 28% and Doordash with 18%. However, investors have recently soured on the company citing increased costs, falling margins, and the aggressive competition from deep pocketed Uber Eats. Fans of the stock, however, counter that the delivery market has enormous potential for expansion both geographically and in terms of the range of items potentially available for delivery.