GrubHub share price rose more than 8 percent earlier this week after Amazon announced halting its competitive delivery service.
Amazon said in a statement that it plans to exit the food delivery service in the United States on June 24.
Meantime, this move will lead to the sacking of some of Amazon’s employees. However, the US company has promised to help sacked employees find new opportunities.
Amazon’s delivery service has been operating in more than 20 states, and ending it means a boon to its biggest competitor, Grub Hub.
GrubHub share price rose 8.23 percent at the end of today’s trading to settle at $ 70.06.
Based in Chicago, the company is the leading online and mobile food delivery service, connecting 19.9 million users with 115,000 associated restaurants across the country.