Just Eat Takeaway.com NV recently experienced a significant increase in its stock value, marking its strongest weekly rally since July 2022.

This surge in shares, which amounted to a 27% increase, followed the announcement of the sale of its struggling US subsidiary, Grubhub, for $650 million.

Despite the sale price being considerably lower than the $7.3 billion acquisition cost during the pandemic, investor optimism was evident as the stock outperformed all other companies on the Stoxx 600 index.

This strategic move is expected to help the company refocus its operations and improve its overall financial health.