Online food delivery service GrubHub (GRUB +0.00%) officially went public on Friday, and quickly became the latest in a series of hot IPOs to explode upward on their first day of trading; the stock closed today up more than 30%. But does the underlying business support the market's enthusiasm?
In this segment of Friday's Investor Beat, host Chris Hill and Motley Fool analyst James Early take a look at GrubHub's hot IPO. James doesn't see any real competitive advantage for the company to differentiate it from its peers, but notes that with the huge premium that shares got on their first day of trading, this probably isn't the end of the hot IPO market.
