WTRH - Waitr Holdings soars 41% after Amazon takes stake in Grubhub

Traders jumped on Waitr Holdings ( NASDAQ: WTRH ) after Amazon took a stake in Just Eat Takeaway.com's Grubhub business.

Shares of Waitr rose as much as 71% in morning trading before settling back to a 41% gain to $0.22. Traders appears to be assessing WTRH as a potential M&A or partnership target.

Waitr Holdings ( WTRH ) is still trading far below the 52-week high of $2.28 with the on-demand food delivery company struggling to reach profitability. Short interest on WTRH is about 6.3% of the total float.

The Seeking Alpha Quant Rating on WTRH moved to Hold from Sell on May 14 with the valuation and EPS revision grades recently improved.

Sector watch: Amazon's deal for Grubhub sent shares of DoorDash and Uber lower.

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