Can Blue Apron Stock Bounce Back After Last Week's 12% Drop?
Some meals are harder to piece together than others, and the same can be said about broken IPOs. Shares of Blue Apron (NYSE: APRN) have been in a world of hurt since the company went public two months ago, tumbling another 12.4% last week after Blue Apron posted disappointing financial results. Several analysts lowered their ratings on the stock and slashed their price targets following the report.
Blue Apron's revenue climbed 18% to $238.1 million in the second quarter, and its adjusted deficit of $0.47 a share was far worse than the $0.30 analysts were targeting. Blue Apron's guidance was even more troublesome. The leading online provider of gourmet meal kits is eyeing $380 million to $400 million on the top line during the final two quarters of this year combined, less than the $421.4 million it served up during the second half of 2016.
Source: Fool.com