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Here’s Why Just Eat Takeaway Share Price Just Soared to Fresh Record Highs

Practice Stock Trading
Updated: 14 October 2020

Shares of Just Eat Takeaway (AMS: TKWY) soared 6% today to print fresh all-time highs after the company said it had registered 46% more orders in the third quarter than in the same period 2019. 

Online sales rose across the board this year as the pandemic forced stores to close for a significant period of time. As a result, the order growth accelerated further after rising 32% in the first half of 2020.

Orders were up as much as 47% in Germany, while the UK followed with a 43% increase. The Netherlands witnessed a 33% rise in orders.

“We have continued to generate strong adjusted EBITDA, while investing aggressively, and are well-positioned for autumn and winter, our traditional growth season,” Chief Executive Jitse Groen said, without providing further financial details.

Just Eat Takeaway stock price hits fresh highs on strong orders intake October 2020

Just Eat Takeaway share price moved about 6% higher to print 103.46, exceeding the previous record high set in August. 

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