5 European Stocks to Sell Before Recession Starts

In this article, we discuss 5 European stocks to sell before the recession starts. If you want to read our discussion on the economic situation in Europe, go directly to 10 European Stocks to Sell Before Recession Starts.

5. Deliveroo plc (OTC:DROOF)

Deliveroo plc (OTC:DROOF) is a London, UK-based online food delivery company. The company claims to be working with 140,000 restaurants across the UK as of 2022.

On July 18, Deliveroo plc (OTC:DROOF) lowered its 2022 revenue guidance as consumers are cutting down on discretionary expenditure with inflation hitting a four-decade high. The company cut its growth in gross transaction value (GTV) guidance to 4% – 12% as compared to prior guidance of 15% – 25%. During Q2 2022, the GTV dropped to 2% only as opposed to 12% during Q1 2022. The consumer confidence level is at an all-time low as wages are unable to match the higher cost of living.

Deliveroo plc (OTC:DROOF) anticipates the company’s EBITDA to record a decline of 1.5% in 2022. The company’s full year’s guidance translates into a loss of $140 million, according to the experts at Jefferies.