Blue Apron Stock Can't Fall Forever
Blue Apron's (NYSE: APRN) turn in the spotlight hasn't been as glamorous as it had hoped.
First, the nation's leading meal-kit provider was forced to slash its price offering price from $15 to $17 a share to just $10. Investors seemed nervous about the threat posed by Amazon's (NASDAQ: AMZN) coming takeover of Whole Foods Market (NASDAQ: WFM) and other questions lingering about the company's business model.
Shares of Blue Apron fell in six of its first eight sessions, dipping as low as $7.10, or 29% below its IPO price, with a market cap hovering around $1.5 billion, much less than its $2 billion valuation in a private funding round back in 2015.
Source: Fool.com
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