SHOP - Four Technology Stocks Delivering for Investors

CORAL GABLES, FL / ACCESSWIRE / June 17, 2019 / Technology Stocks have been a driving force for the market for decades now. In fact, the rate of growth for tech isn't expected to slow down anytime soon either. In fact, on June 11, tech stocks posted their best six-day stretch in more than 7years. With more focus being put on e-commerce and the "global mindset," some of the best tech stocks to watch can be found in the retail space.

ParcelPalTechnology (PKG.CN) (OTC PINK: PTNYF) has followed suit with a clear focus on e-commerce. The company's main focus is on connecting consumers and retailers via their mobile application. Unlike other mobile delivery technologies, ParcelPal has begun integrating its platform with key outlets.

Something that is beginning to set ParcelPal Technology (PKG.CN) (PTNYF) apart from its immediate competition is its diversification strategy. Not only is the company working with the likes of Amazon, but it is also entering into key verticals that are seeing an increase in rapid demand. Right now, ParcelPal has built relationships with businesses in both alcohol and cannabis.

With this in mind, ParcelPal Technology (PKG.CN) (PTNYF) has taken this a step further. This morning it was reported by Benzinga that the company has formally announced that it will be integrating with Shopify (NYSE: SHOP) to offer cannabis products to customers of Shopify shops. This will be available in Vancouver, Calgary, and Saskatchewan. Customers ordering from Shopify stores in these areas will be able to receive cannabis at their own homes.

"Shopify is the main e-commerce platform in Canada for cannabis. Our integration onto the Shopify platform allows us to easily integrate and begin executing within the space," ParcelPal's President and CEO Kelly Abbott told Benzinga. Two of the company's current clients (Choom Holdings and Kiaro) already have been established on the Shopify platform. The move, as the company puts it, will "give them an omnichannel approach to their sales. This will give us access to the recreational and medical market."

The market for on-demand ordering has rapidly expanded and that segment may only get larger. The online food delivery market is expected to hit $161.74 Billion by 2023 according to information from Adroit Market Research. Their report states that APAC online food delivery market stood at USD 34.31 billion in 2017 and is projected to reach USD 90.95 billion by 2023.

America is the second most favorable market for online food delivery services and is expected to grow at a CAGR of 11.7 % over the forecast period. "Presence of key economies such as the U.S., Canada, and Mexico is the key driver for the development of this region."

For More Information on the Shopify & ParcelPal Deal Click Here

Uber Technologies, Inc. (NYSE: UBER) has also been getting into the on-demand delivery opportunities. Through its UBEREats platform, the company has been able to expand its footprint for food delivery specifically. Uber takes a 30% cut and a delivery fee, then pays drivers. "We charge a lower service fee to certain of our largest chain restaurant partners on our Uber Eats offering to grow the number of Uber Eats consumers, which may at times result in a negative take rate...considering amounts collected from consumers and paid to Drivers," the company wrote.

In the fourth quarter of 2018, Uber reported that 50% of its first-time Uber Eats customers were new Uber network users. Furthermore, users of both Uber Eats and the rideshare app were more loyal than the average customer.

Grubhub Inc. (GRUB) is another online and mobile food ordering and delivery marketplace. The company connects diners with local takeout restaurants. Based in Chicago, as of Q1 2019 the company has 19.9 million active users and 115,000 associated restaurants across 2,200 cities in the United States. Though the company, similar to UBEREats, solely focuses on food delivery versus other things like courier services and cannabis, GrubHub has been able to establish itself in the North American marketplace.

The Company recently posted revenues of $324 million, which is a 39% year-over-year increase from $233 million in the first quarter of 2018. Gross Food Sales grew 21% year-over-year to $1.5 billion, up from $1.2 billion in the same period last year.

"We are extremely proud of our entire team for another fantastic quarter of execution - record new diner growth, thousands of new quality restaurants added to our platform and a sixth consecutive quarter of organic order acceleration. Even with our recent ramp in growth investments, adjusted EBITDA per order improved during the quarter, underscoring our ability to grow in a long-term sustainable manner" said GrubHub Founder and CEO Matt Maloney.

While food delivery alone is not new, the ways people are beginning to take delivery are. Mobile application technology has become a growing one and for companies that are utilizing it for more than just what we eat, the opportunities could be even bigger based on the market growth projected.

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MIDAM VENTURES LLC has been compensated $75,000 per month by a ParcelPal Technology, Inc. for a period beginning September 1, 2018 and ending February 1, 2019 to publicly disseminate information about (PTNYF/PKG) to publicly disseminate information about (PTNYF/PKG). Midam Ventures has been compensated $100,000 by Parcel Pal and has extended coverage to April 1, 2019. Midam Ventures has been compensated $100,000 by Parcel Pal and has extended coverage to May 1, 2019. Midam Ventures has been compensated $200,000 by Parcel Pal and has extended coverage to June 1, 2019. Midam Ventures has been compensated $200,000 by Parcel Pal and has extended coverage to July 1, 2019. We may buy or sell additional shares of (PTNYF/PKG) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares.

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