Yum! Brands craters after a profit hit from its investment in Grubhub (YUM) | Markets Insider

KFC, Taco Bell, and Pizza hut's owner, Yum! Brands, sank in opening trading in New York after reporting its third-quarter earnings.

The fast-food company reported massive declines in profits and earnings per share, as the brand slipped 9% on Wednesday. The company said its investment in Grubhub was in part to blame, taking a $60 million hit from the food delivery service., the owner of Pizza Hut, KFC and Taco Bell, cratered in opening trading in New York, after the brand posted massive losses in its third-quarter earnings.

The fast-food company sank 9% as of 12:07 p.m. in New York, which prior to the opening bell had a market cap of over $33 billion, signalling a $3 billion loss in a single morning in terms of value.Yum!, said in its

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