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Why Blue Apron Stock Popped Today

TheMotleyFool

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Shares of Blue Apron (NYSE: APRN) jumped today, a surprising move that came the day after the company turned in its third-quarter earnings report. Though the results were worse than expected, the stock climbed throughout Friday's session, perhaps on a short squeeze or as investors looked more favorably at the stock's turnaround potential. The stock closed up 16.2%.

Image source: Blue Apron.

For the quarter past, the meal-kit provider said revenue fell 34% to $99.5 million, missing estimates at $107 million by a wide margin, though management attributed the revenue decline to a strategic pullback in marketing as the company seeks to focus on its highest-value customers.

Source Fool.com

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