Just Eat gets standard stock listing
Food delivery app Just Eat switched to a standard listing on the London Stock Exchange. Previously, it held a ‘premium listing’.
A premium listing comes with additional caveats and with the standard listing, trade for Just Eat stocks is easier. Along with its listing on LSE, it remains listed Euronext Amsterdam. The company holds 45 per cent of the market share when it comes to UK food delivery.
However, the listing has not improved Just Eat’s stock price freefall. 2022 has been a turbulent year for the business. The Netherlands based company is currently valued at just over £2.5b. This a staggering cut back from its peak valuation of nearly £18b in 2021.
The food delivery sector has struggled through the year, with a drop in take away orders after a staggering rise in food prices. The sector has attempted to move towards cut back and consolidation. Earlier in 2022, Just Eat exited Romania and the US to scale back costs.
At market open, the stock prices for Just Eat dropped by 2.2 per cent. The downward trajectory for stock prices has been consistent over the last month. The trend is sector wide, with Deliveroo stock prices dropping as well. Deliveroo pulled out of Australia last month, following its exit from Netherlands in August.
Just Eat has been reached for comment.