Why Blue Apron Holding Inc Stock Popped Today
Shares of Blue Apron Holding Inc (NYSE: APRN) were looking appetizing today after CEO and co-founder Matt Salzberg said he would step down from the leadership role of the embattled meal-kit service, with CFO Brad Dickerson assuming the CEO chair.
Salzberg will become the executive chairman and will remain as chairman of the board of directors as well. Investors cheered the move as Blue Apron has suffered from both self-imposed errors and competitive threats during its five months as a publicly traded company. The stock had risen 6.5% as of 11:21 a.m. EST today, though it is still down nearly 70% since its IPO.
A Thai yellow curry beef dish from Blue Apron. Image source: Blue Apron.
Source: Fool.com
