Why Blue Apron Is Running Higher This Week
Shares of Blue Apron Holdings (NYSE: APRN) soared 17.7% higher this week compared to their close last Friday, according to data from S&P Global Market Intelligence, on no specific news that would account for such a big run higher, though it appointed a new director to its board and the meal kit company said it would be coming out with breakfast options.
At just under $5 per share, Blue Apron has lost virtually all of its value from its 2017 IPO as meal kits have become commoditized as competition from supermarkets, big box stores, and other providers destroyed whatever market advantages it once held.
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Source Fool.com
