Is Waitr Holdings a Buy Under $1? By StockNews
© Reuters. Is Waitr Holdings a Buy Under $1?
Food delivery services provider Waitr Holdings (NASDAQ:) has expanded its market presence by adding national brands to its platform and diversifying its offerings. However, given the company’s declining revenues and uncertain growth prospects, is it worth betting on the stock at its current price level? Let’s find out.On-demand food ordering and delivery platform provider Waitr Holdings Inc. (WTRH) operates through Waitr and Bite Squad mobile applications in the United States. WTRH’s expanded delivery options and a growing footprint in new markets, with more than 25,000 restaurants on its platform, have facilitated a surge in average daily orders. WTRH’s average daily orders rose 2.5% sequentially to 38,583 for the second quarter of 2021.
However, WTRH’s stock has slumped 19.6% in price over the past month to close yesterday’s trading session at $0.94. Also, the stock is currently trading 79.5% below its 52-week high of $4.57.
Although the food delivery company’s recent investment in a mobile banking blockchain application as a payment option for its customers, and acquisitions in the fintech sector could bode well for the stock, its underwhelming financials and unchanged active diner growth rate in its last reported quarter could be alarming.
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