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After $30 Billion Rout, Food Delivery Firms Face Growth Slowdown

  • Sentiment at historic low as stocks plunge more than 60%
  • Analysts see revenue growth slowing for unprofitable firms
Food Delivery Companies Operating in Germany's Capital
Photographer: Liesa Johannssen-Koppitz/Bloomberg

For all it’s been a tough year for equities, food delivery stocks have had it much worse.

Just Eat NV and Delivery Hero SE are among the 10 biggest losers in the Stoxx 600 Index in 2022, both down more than 60%, and when Deliveroo plc is added, the combined market value losses stand at $30 billion. The stocks have long since given up gains made on the back of a pandemic-inflated surge in sales.