Why Are Food Delivery Stocks Trading Higher Today?

Food delivery stocks DoorDash Inc DASH and Waitr Holdings Inc WTRH are trading higher Monday amid renewed COVID-19 concerns. 

Food delivery companies saw increased strength during the COVID-19 pandemic as restaurant closings led to increased demand for delivery services.

The recent spread of the COVID-19 Delta variant has become a major concern. The highly contagious COVID-19 variant recently became the dominant strain in the United States. 

DoorDash operates an online food ordering and delivery platform. Consumers can use the DoorDash app to order food for pickup or delivery from merchants mainly in the United States.

Waitr Holdings operates a restaurant platform for online food ordering and delivery services across the United States.

Price Action: At last check Monday, DoorDash was up 4.89% at $175.55 and Waitr Holdings was up 6.46% at $1.56.