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Saturday, November 12, 2016

Grubhub Stock Crashes because Trump supporters Boycott after CEO asks Supporters of Trump to quit company

Image: Grubhub CEO Asks Trump Supporters to Quit, Stock Implodes on Boycott
Matt Malony the "Chuchem fin dee Ma'Nistana"

Matt Maloney found a new way to destroy the wealth of investors in Grubhub Inc.: Urge supporters of President-elect Donald Trump to quit the company he leads as chief executive officer.
The company's stock dropped after Maloney's e-mail was leaked and triggered a boycott movement that swept through Twitter with the hashtag #boycottgrubhub. Twitter users speculated that Maloney may have violated his employees' rights by discriminating against their political views.

Maloney's leaked e-mail Wednesday said he rejects Trump's "nationalist, anti-immigrant and hateful politics" and that anyone who disagrees should immediately resign "because you have no place here."

He later backtracked, but the damage was done. The stock was down 5 percent by the end of Friday to a four-month low of $35.25 a share.
In a panicked tweet Thursday that was later deleted, Maloney said: "Grubhub does not tolerate hate and we are proud of all our employees — even those who voted for Trump."
Maloney later issued a statement saying his email advocated for inclusion and tolerance and that Grubhub doesn't discriminate based on political beliefs, according to the Associated Press.
Chicago-based Grubhub connects online customers with takeout restaurants in the U.S. and London.

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