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Wednesday, June 29, 2022

Why the share price of Waitr Holdings Inc (WTRH) is increasing?

The share of Waitr Holdings Inc (WTRH) went up significantly in the after-hours trading on march 4 2021 the company announced that WTRH is going to a partnership with Flow payments to create a complaint marketplace, delivery, and payment solution for dispensaries selling cannabis. In extending the trading session on March 4, the share price increase by 26.09%. In the normal trading session, the share price went down by 6.27 %.

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The WTRH also announced that the company is going to release its fourth-quarter 2020 financial results following the close of the stock market on Monday, March 8, 2021. 

The partnership consists of Waitr’s proprietary delivery technology, combined with Flow Payments’ access to specific partnerships as well as specific payment processing solutions.A combination of these two projects will result in the creation of a specialized platform in order to facilitate the sale and delivery of cannabis while abiding by all federal and state directives.

At the partnership announcement, the CEO and Chairman of the board of WaitrMr Carl Grimstand said that the new partnership will pivot the company into new businesses with our specialized integrated payment and delivery solutions.

Brett Husak from Flow payments said that they are excited to be a partner with Waitr and passionately looking forward to helping them in navigating the complexities of payment processing. He further said the building a statutorily delivery and payment system in the cannabis market will be the primary goal of our partnership and it will create more revenue for both companies.

Recent business update of WTRH

On March 2, 2021, the WTRH announced that the company has completed the integration partnerships with two additional ordering integration systems, Chowly and ItsaCheckmate, which will improve operational accuracy and efficiency

Waitr is taking strategic initiatives to improve its service quality for the restaurants and customers. The recent partnership with Chowly and ItsaCheckmate is an example of their aggressive strategic initiatives. The company recently introduced the new dine-in tableside service technology expanded the same-day groceries and alcohol delivery service. The company is also going to target such markets which are unserved yet

The Waitr was founded in 2013 in Lafayette, Louisiana and now in a short period, the company is the leader in on-demand food ordering and delivery. It has a sister brand Bite Squad which the company used to connect local restaurants and grocery stores to hungry diners in underserved U.S. markets. Hence both parent and sister companies make it easy for the customer to discover, order, and receive great food from local restaurants, grocery stores, and national chains. The Waitr and bite squad providing their services in more than 700 cities and towns of the USA.

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