UBER - Restaurant stocks rally while more warnings issued on valuations on food delivery names

Restaurant stocks are largely higher as earnings reports and guidance updates from major chains land on the positive side.The sector is also getting a boost from news that New York City plans to fully reopen on July 1. While that is the timeline that has been largely anticipated by analysts, the development could remove some risk surrounding Q3 earnings.Notable restaurant gainers include Bloomin' Brands ([[BLMN]] +10.8%), Cheesecake Factory CAKE, Good Times Restaurants ([[GTIM]] +5.4%), BJ's Restaurants ([[BJRI]] +7.3%), Red Robin Gourmet Burgers ([[RRGB]] +7.8%), Dine Brands Global ([[DIN]] +4.2%) and Brinker International ([[EAT]] +4.4%). Shake Shack ([[SHAK]] +0.4%) is lagging peers on the day.Some academic professors are joining the chorus of skeptics voicing warnings that online delivery firms won't be able to keep up the torrid pace of growth seen during the pandemic. The profs think as much as 69% of the food delivery sales in 2020 were from artificial

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Restaurant stocks rally while more warnings issued on valuations on food delivery names