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GrubHub -5.8% following CEO's anti-Trump commentary

Published 11/11/2016, 10:15 AM
Updated 11/11/2016, 10:15 AM
GrubHub -5.8% following CEO's anti-Trump commentary
  • GrubHub (NYSE:GRUB) is off 5.8% in a move attributed to sharp comments about the presidential election from CEO/founder Matt Maloney, where he asked people with "hateful attitudes" to resign.
  • Shares are down 9.4% over the past two days. An e-mail sent by Maloney (and confirmed by the company) said that he "absolutely" rejected the "nationalist, anti-immigrant and hateful politics of Donald Trump."
  • He addressed his note to anyone who felt scared or exposed by the result and said GrubHub would "fight for your dignity and your right to make a better life for yourself and your family here in the United States ... If you do not agree with this statement then please reply to this email with your resignation because you have no place here. We do not tolerate hateful attitudes on our team."
  • In a blog post, Maloney has responded to commentary that said his mail meant Trump voters needed to get out of the company. "I want to clarify that I did not ask for anyone to resign if they voted for Trump. I would never make such a demand. To the contrary, the message of the email is that we do not tolerate discriminatory activity or hateful commentary in the workplace, and that we will stand up for our employees."

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