Amazon's failure leads to Grubhub's boost

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    Amazon INC(AMZN) is one of the top companies in the world with a market cap of $795.18 billion. Amazon has spend the last decade expanding themselves to all kinds of departments. Amazon started out as an online book store, but has expanded into cloud service, an on-demand content provider, into grocery sector by acquiring Whole Foods, and more.
     Grubhub(GRUB) is a food delivering service which serves in more than 2,200 U.S. cities and London and is one of the largest food delivering services. Grubhub competes with other meal-delivery services such as DoorDash, Uber Eats, and Postmates and they all account for 93% of sales of the U.S..
    Amazon opened Amazon Restaurants which is a food delivering service similar to Grubhub and DoorDash, but it wasn't a success so Amazon decided to close it on Tuesday. Amazon investors aren't worried about this news because this is a small failure compared to their large amounts of success so Amazon's stock wasn't effected too much by the news. On the other hand, Grubhub's stock responded positively increasing more than 8% because they now have one less competitor which will bring them more revenue. Grubhub's average price target by analysts is $94 in a year which shows that analysts think that Grubhub has a positive outlook.

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