Why Blue Apron Holdings Inc Stock Was Soaring Today

Shares of Blue Apron Holdings Inc (NYSE: APRN) were climbing for the second session in a row today after the company replaced CEO Matt Salzberg with Brad Dickerson, who had been serving as the meal-kit provider's CFO. Positive analyst sentiment seemed to help push the stock up today after it gained 8% on Friday. As of 11:46 a.m. EST Monday, the stock had gained 17.3%.

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Shareholders applauded after the company said that Salzberg, who was also a co-founder, will become executive chairman and also remains as chairman of the board. Dickerson brings 11 years of experience in executive roles at Under Armour, where he served as CFO and COO at a time the company was rapidly expanding, and investors are hopeful he can guide Blue Apron through a similar growth phase.

Source: Fool.com