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Benzinga
Benzinga
Business
Adam Eckert

Why Uber Stock Is Tapping The Brakes Today

Uber Grubhub Amazon Nasdaq NYSE Uber Technologies Inc

Uber Technologies Inc (NYSE:UBER) shares are trading lower Wednesday after Amazon.com Inc (NASDAQ:AMZN) acquired a 2% stake in competitor company Grubhub.

Amazon will receive warrants over 2% of Grubhub’s fully-diluted common equity. Amazon will also receive warrants over up to a further 13% of Grubhub’s fully-diluted common equity, subject to certain performance conditions, principally the number of new consumers delivered through the commercial agreement.

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