If you invested $1,000 in Blue Apron (NYSE: APRN) when it went public in 2017, you'd have less than $50 today. Past performance doesn't always reflect future performance. But investors should think twice before betting on this floundering meal-kit company, because the factors that caused its spectacular crash are still at play.

Founded in 2012, Blue Apron was one of the first meal-kit delivery companies in the U.S market. This should have given it high brand recognition and a first-mover advantage. But the company completely dropped the ball. According to the online magazine Vox, Blue Apron boasted a 40% market share the year it went public in 2017. A later report by Bloomberg found that this number had fallen to just 9% by 2021.

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Source Fool.com