5 European Stocks to Sell Before Recession Starts

2. Just Eat Takeaway.com N.V. (OTC:JTKWY)

Just Eat Takeaway.com N.V. (OTC:JTKWY) is an Amsterdam, Netherlands-based online food ordering and delivery solution provider. The entity was established following a merger of Amsterdam-based Takeway.com and London, UK-based Just Eat in 2020.

The market value of Just Eat Takeaway.com N.V. (OTC:JTKWY) has taken a hit with a sharp decline in the valuations of tech stocks. Just Eat Takeaway.com N.V. (OTC:JTKWY) has lowered the value of GrubHub, its US subsidiary, by $3 billion, citing intense competition and restricted budgets.

On August 4, Andrew Ross at Barclays downgraded Just Eat Takeaway.com N.V. (OTC:JTKWY) stock from an Overweight to an Equal Weight rating. The analyst highlighted that the cash burn by the company is greater than expected. Ross also added that Just Eat Takeaway.com N.V. (OTC:JTKWY) is heading towards a position where it would have to sell its assets from a position of weakness to sustain the business operations as the pressure on the balance sheet is continuously growing.