Investors Back GrubHub As Amazon Shuts Down Restaurants Business


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Amazon.com, Inc. (NASDAQ:AMZN) is to shut down its Amazon Restaurants business in the U.S, according to Geekwire.

“As of June 24th, we will discontinue the Amazon Restaurants business in the US,” an Amazon spokesperson said in a statement to  GeekWire.

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In November, Amazon Restaurants shut down its London business, according to TechCrunch. 

Shares of the online and mobile food ordering and delivery business GrubHub Inc (NYSE:GRUB) spiked Tuesday as the news of Amazon's move hit the Street. 

GrubHub shares were rallying by 7.11 percent to $69.33 at the time of publication Tuesday, while Amazon shares were up 0.59 percent at $1,871.56. 

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Photo courtesy of GrubHub. 


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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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