May 12, 2020 Brandon Suffel
Rumors spread that Uber is trying to buy & take over Grubhub. Elon Musk won’t step down to Almeda county. He’s going in full force, and has already reopened the California factory like-it-or-not.
Uber wants Grubhub
Last week, Uber reported their first quarter earnings. They mentioned their food delivery service: Uber Eats, contributes greatly to the company with food delivery more popular than ever.
Grubhub is Uber Eats number one competitor in the food delivery service market–without a doubt. In order to completely monopolize and control the sector of food delivery, Uber has decided to approach their competitor and make them an offer.
This news spread rampantly this morning seeping into the afternoon. A Bloomberg representative released the information to the public before Uber or Grubhub had a chance to do so. This news sent Grubhubs stock soaring in trading hours. Uber on the other hand, pared fewer gains to their stock, but I wouldn’t doubt once Uber accumulates Grubhubs business model, Uber share prices will be valued higher than today’s.
News like this is good for Uber investors. Although we lose variety when investing in food delivery service companies, we know Uber’s new business model doesn’t mainly focus on a riding service. Food delivery is becoming more and more popular, especially in our current structure of society. Jobs have been made, restaurants continue to sell their goods, and Uber needs more capital to fuel this business model.
$UBER stock was up 2.40% in trading hours. They’re down 1.23% in the after hours.
$GRUB stock was up 29.07% in trading hours. They’re down 2.96% in the after hours.
Elon Musk prevails
Elon Musk in the past few months has gone from an ideologue figure, to a controversial monument. His words speak volumes to his followers and to his critics. He doesn’t mind sharing his thoughts freely on Joe Rogans podcast for a second time. And he doesn’t mind selling his possessions. This is a man of true grit. Musk has made it his life’s work for efficient space travel.
Almost a week ago, Elon Musk was at war with Almeda county officials, who sought to keep Tesla’s plant in California closed. Musk wants the plan opened, so he went to Twitter to make his verbal arguments heard and for the public to see firsthand what he’s dealing with.
From what I’ve read so far, Musk isn’t losing any battle, he’s only making fools out of those who’ve become hypocritical simpletons. You can’t argue with Musk ever, not on Twitter and not in real life. It only takes a few typed words and a push to the tweet button, and he has you.
Soon enough, President Donald Trump joined in on the Elon Musk fan club train. The president shared his concerns on Twitter.
So far the plant has been reopened, defying the orders made by Almeda county. Elon Musk on Twitter said this, incase any of the workers were to be charged or arrested…
We await more news from the motions Elon Musk took reopening the factory. I hope the best for him and his employees.
$TSLA stock in trading hours were down 0.23% and losses fared into the after hours.