The stock of Just Eat Takeaway.com N.V. (GRUB) gained in the pre-market after the company announced its joint venture with USHCC in a press release. The stock of GRUB was valued at $10.99 in the pre-market gaining more than 7.85% from the previously closed value. At the end of the last trading session, the stock closed at around $10.19. The volume of the stock traded in the last trading session was around 2.31 million shares.
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Reason for the GRUB stock gain
Just Eat Takeaway.com N.V. (GRUB) and the United States Hispanic Chamber of Commerce Education Fund, today announced in a press release that USHCC & Grubhub have partnered to start Small Business Grant Program. The initiative will be financed through Grubhub’s Donate the Change Program. The range of the amount will in between $5K to $10K.
Grubhub is amongst the leading U.S. food-ordering and delivery marketplace and the United States Hispanic Chamber of Commerce Education Fund is a non-profit organization. According to the initiative around 300 grants are expected to be given to qualified Hispanic-owned restaurants in the US.
The USHCC was named the official partner of Grubhub’s Donate the Change program throughout Hispanic Heritage Month. Due to which they have raised tens of millions of dollars for the organization.
The application will be accepted between Jan 13 to Jan 26 and the grants will be provided to the eligible Hispanic-owned restaurants. There are a few requirements for a Hispanic-owned restaurant to qualify for the grant, the restaurant should have an active EIN and must be majority Hispanic-owned.
To qualify for a grant, Hispanic-owned restaurants must satisfy the following requirements: As of the submission of the application date, it must have 20 employees and should be operational for at least nine months.
Effect on the stock
This campaign by Just Eat Takeaway.com N.V. (GRUB) has positively affected its stock. It seems the company has enough funds to contribute to the development of society. This will also increase the customers on its platform which will increase its revenue.
Conclusion
The initiative will play a vital role in increasing the market share of the company by supporting business owners. This will increase the footfall of the customer on its platform and eventually increase its revenue.
