Deliveroo (LON: ROO) & Kanabo (LON: KNB): Should you buy these 2 stocks?

2 min read | September 01, 2021 07:02 PM AEST | By Suhita Poddar

Deliveroo (LON: ROO) & Kanabo (LON: KNB): Should you buy these 2 stocks? — Image source: Vintage Tone, Shutterstock.com

Deliveroo Plc (LON: ROO)

Deliveroo is an online food delivery firm based in the UK. In August 2021, Walgreens Boots Alliance collaborated with Deliveroo for a pilot scheme enabling home delivery of more than 400 beauty and health items in select UK regions. Recently, German delivery rival Delivery Hero acquired a 5.09 per cent stake in Deliveroo.

For H1 2021, Deliveroo reported revenues of £922.5 million, up by 82 per cent compared to £507.4 million in H1 2020. The company’s gross transaction value (GTV) is up 102 per cent to £3,385.8 million, and gross profit is up 75 per cent to £263.9 million in H1 2021. The company’s cash and cash equivalents stood at £1,626.7 million as of 30 June 2021, including net proceeds of £1,012.9 million from the IPO in March 2021.

Deliveroo shares traded at GBX 355.20, up by 1.95 per cent at 9:20 AM, and the market capitalisation stood at £6,226.79 million as of 1 September 2021.

Kanabo Group Plc (LON: KNB)

Kanabo Group, formerly known as Spinnaker Opportunities Plc, is a medical cannabis firm based in the UK. On 17 August 2021, Kanabo Group’s Materia inked an agreement with Eurox Pharma GmbH, a medical cannabis manufacturer in Germany, for the distribution of German-produced medical cannabis extracts.

Due to the pandemic, Kanabo recorded a loss of £131,000 for the year ended 31 December 2020, which was almost a third of the loss witnessed in 2019 of £363,000. The company’s net cash outflow for 2020 was £238,000 (2019: £444,000).

Kanabo Group’s shares traded flat at GBX 19.50 9:22 AM, and the market capitalisation stood at £71.94 million as of 1 September 2021.

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