The on-demand food ordering and delivery firm Waitr Holdings Inc. (Nasdaq: WTRH) saw its stock price surging 26.09% in after-hours trades following news of the company stepping into the cannabis market.
How is the company going to expand?
Wait, a leader in on-demand food ordering and delivery, was founded in 2013 and is based in Lafayette, Louisiana. It also offers a competitive advantage by pairing restaurants and grocery stores with hungry U.S. diners like its sister brand, Bite Squad does. These services are a great way to find food at restaurants, grocery stores, and national chains from local and national food delivery services. By September 30, 2020, Waitr and Bite Squad plan to operate in over 700 U.S. cities, serving small and medium business owners.
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Waitr today announced that the company has decided to continue working to partner with Flow Payments to create a platform that is compliant for dispensaries to operate and sell cannabis.
Flow Payments’ unique access to specific partnerships in conjunction with Waitr’s proprietary delivery technology and assets may form the basis for this partnership. With these elements in play, a specialized platform will allow for the sale and distribution of cannabis, while keeping with state and federal laws.
Also this week, the Waitr team has completed the integration of its services with two more ordering integration systems, Chowly and ItsaCheckmate, to enhance the accuracy of order processing for some of the nation’s largest and most trusted restaurants chains. With new ways to help restaurants handle customer orders, Chowly and ItsaCheckmate will streamline the Waitr’s business.
Customers will benefit from greater efficiency and shorter delivery times thanks to the new service, while restaurants will benefit from greater ordering and revenue. Five Guys, Church’s Chicken, Captain D’s, and Dickey’s Barbeque Pit are among the top restaurant brands integrated with the new system.