10 days ago • Posted by Ajmir Omid
Delivery Hero stock jumps upon company update $DHER #profitable #stock #trading
The German multinational online food delivery service company announced that its food delivery business is expected to break even during second half of this year, and generate between EUR0 and EUR100m in adjusted EBITDA in Q4 2022. Following the news, the stock jumped 7%.The German company has invested heavily in the quick commerce space and is enjoying strong growth since the Covid pandemic. Recently, the company also reported that it acquired a majority stake in Spanish delivery startup Glovo, holding now about 83% of the startup on a non-diluted basis, and sold off another USD150m worth of its stake in Latin America based Rappi, in an attempt to realign its global footprint.