Grubhub shares slumped 43% Tuesday in a rout that began late Monday after the company cut its outlook for revenue and profit, citing the need to spend more on promotions to draw in customers
Grubhub Inc. shares headed toward their biggest one-day decline ever Tuesday, underlining intensifying concerns among investors over the future of the food-delivery industry.The rout began late Monday after the Chicago-based company cut its outlook for revenue.
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