By Chris Bailey of Financial Orbit | Wednesday 11 August 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I reckon that Deliveroo (ROO) has delivered to my home once. It was okay but – in my view – a bit of a rip off, but it was something a bit different for the family to try. As for Deliveroo shares I have never owned them, regarding the IPO a few months ago as being at a bonkers price. Since the share price low of early April, the stock has pushed up but if you did participate in the IPO in March, then you are still losing money. Last month here I wrote some thoughts on its ‘progress’ but observed that I was still avoiding the shares as ‘the underlying reality answer we all need to figure out is where profitability is going to be in full year 2021 and 2022’. That’s the trouble with a company where the mention of ‘gross profit’ means that it is all going to be comedy EBITDA centred (at best).
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