GrubHub Shares Lower As New York State Authority Could Curb Delivery Fees

GrubHub Inc GRUB shares traded lower after the New York Post reported the New York State Liquor Authority could curb delivery fees.

The New York State Liquor Authority is responsible for regulating restaurants serving alcohol and is currently scrutinizing the business model and developing new rules that will curb the fees that can be charged by delivery services such as Grubhub.

GrubHub shares fell 4.7% to $73.38 at time of publication. The stock has a 52-week high of $149.35 and a 52-week low of $60.20.

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