Blue Apron Makes a Brutal First Impression
Blue Apron (NYSE: APRN) had the perfect opportunity to prove the growing number of naysayers wrong by blowing them away with its first quarterly report as a public company on Thursday...and it just didn't happen. The gourmet meal-kit provider posted brutal financials with sharply decelerating year-over-year revenue growth and another chunky deficit.
Blue Apron stock would go on to hit fresh all-time lows on Thursday, something that may not be saying much for a company that's only been public for less than two months, but investors who got in on the June initial public offering at $10 have now seen their investments shaved nearly in half. Blue Apron's problematic outlook is also not giving the thinning lot of bulls a reason to expect things to get better anytime soon.
Image source: Blue Apron.
Source: Fool.com
