The stay-at-home economy is undoubtedly flourishing, so Jim Cramer turned to one of its biggest benefactors to see how it is staying afloat: online food delivery giant Grubhub .
"Take it from me, the owner of Bar San Miguel in Brooklyn, you never want to do take out if you can avoid it," the " Mad Money " host said. "And delivery? Holy cow, that’s a total sin for a restaurant, a dead weight loss given [that] you can’t even get a guest to buy a Corona while she waits for her food to go."
Yet those two services have been Grubhub’s keys to success, with the company seeing 40 percent year-over-year revenue growth and 21 percent year-over-year daily average user growth in its first quarter earnings report.
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Cramer sees the company’s earnings beat as a sign on a "huge cultural sea change" upheld by pizza powerhouse Domino’s , which saw gains across the board in the first quarter, including a 10 percent bump in same-store sales.
However, since its initial public offering in April 2014, Grubhub has had a controversial history. Some thought its business model was set up well for growing nationwide, while others saw […]