Why Shares of Blue Apron Holdings Fell 21% in August
Shares of Blue Apron Holdings (NYSE: APRN) tumbled 20.7% in August, according to data provided by S&P Global Market Intelligence, after the company reported a net income loss of $31.6 million in the second quarter and saw its customer base fall by 9% sequentially. Additionally, investors continued to be spooked by Amazon.com's (NASDAQ: AMZN) encroachment into Blue Apron's space.
The subscription food delivery business has gotten off to a rough start as a public company since its IPO back in June. Blue Apron's stock is down nearly 48% since then, and about half of that drop occurred in August.
Image source: Blue Apron.
Source: Fool.com
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