GrubHub’s (NYSE:GRUB) CEO Killed His Company and Investors

GrubHub’s (NYSE:GRUB) CEO Killed His Company and Investors

GrubHub’s (NYSE:GRUB) CEO Killed His Company and Investors

$GRUB

CEO Matt Maloney last week found a new way to destroy the wealth of investors in Grubhub Inc (NYSE:GRUB).

How: Mr. Maloney urged supporters of President Elect Donald Trump to quit the company he leads, or hang on, will not lead for long.

The company’s stock dove after Mr. Maloney’s e-Mail was leaked and triggered a boycott movement that swept through Twitter (NYSE:TWTR) with the hashtag #boycottgrubhub.

Twitter users speculated that Mr. Maloney violated his employees’ rights by discriminating against their political views.

Mr. Maloney’s leaked e-Mail Wednesday said he rejects Donald Trump’s “nationalist, anti-immigrant and hateful politics” and that anyone who disagrees should immediately resign “because you have no place here.”

He scrambled, backtracked, but too late, the damage was done.

The stock was down 5% by the end of Friday to a 4 month low of 35.25/share. If the stock breaks support at 32.07 it is headed due South to 23.53 the 25 May 2016 low.

Mr. Maloney later issued a statement saying his e-Mail advocated for inclusion and tolerance and that Grubhub does not discriminate based on political beliefs.

Expect massive shareholder lawsuits naming Mr. Maloney personally, plus the board demanding his resignation.

Chicago-based Grubhub connects online customers with takeout restaurants in the US and London.

Symbol Last Trade Date Change Open High Low Volume
NYSE:GRUB 35.31 11 November 2016 -1.79 36.2 36.21 34.66 5,466,300
HeffX-LTN Analysis for GRUB: Overall Short Intermediate Long
Bearish (-0.33) Bearish (-0.38) Bearish (-0.42) Neutral (-0.19)

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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2 Responses to "GrubHub’s (NYSE:GRUB) CEO Killed His Company and Investors"

  1. Boris Krumov   November 14, 2016 at 3:09 am

    Stupidity is not a virtue and never will be, snowflake Maloney-baloney .!.. ..!.

  2. Vickie Peckham Patterson   November 15, 2016 at 7:55 pm

    I love how those who preach tolerance are the most intolorent.

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