Grubhub Inc GRUB shares are trading higher by $1.05 (3.6 percent) at $29.94 in Friday's session. A catalyst for the rally is a Morgan Stanley report stating that "online food delivery still only at 5 percent penetration."
Its opening print of $29.86 turned out to be one penny off the low for the day. The ensuing rally has taken the issue over $30 to $30.17 for the first time since October 26, when it ended the session at $32.09. The following day it lost over $7, falling to $24.49 when the company reported a Q2 miss of a penny and lowered Q4 guidance.
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