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In a continuation of the food delivery wars, Amazon.com ( AMZN ) has extended its service to New York and Dallas, available to Amazon Prime members. In New York, the food delivery service — called Amazon Restaurants — is available from more than 350 local restaurants spanning 40 cuisine types across Manhattan, Amazon said in the announcement. Once an order is placed, Amazon’s partners deliver the food in an hour or less. Amazon initially launched its food delivery service in Seattle eight months ago. Coverage areas also currently include San Francisco; Los Angeles; San Diego; Austin, Texas; Portland, Ore.; Baltimore and Chicago. The expansion puts additional pressure on food delivery service providers such as GrubHub ( GRUB ), UberEats and Postmates. Amazon shares were near 704, down 1%, in early trading in the stock market today . Amazon stock, though, has been on a roll. It hit an all-time high of 722.45 on May 12, but it’s 17% extended from a 603.34 buy point out of a cup-with-handle base, touched on April 11. GrubHub stock was down 3% early Tuesday, near 24.50. What’s the short-term outlook on Amazon? Take a look at IBD’s SwingTrader . Scalper1 News
Scalper1 News