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Be the first with the news that moves the market- Blue Apron (NYSE:APRN) stock has extended its losses from last Friday, but could this be a dip in the company’s share value?
- Analysts expect a 1.59 per cent gain as the company transferred its operational infrastructure to FreshRealm
- Blue Apron’s stock fell 7.73 per cent Thursday and was down 1.4 per cent by midday Friday. Year-to-date its stock has lost 36.9 per cent and is down 79.7 per cent from this time last year
- Blue Apron (APRN) opened trading at US$6.50 per share
Blue Apron (NYSE:APRN) stock has extended its losses from last Friday, but could this be a dip in the company’s share value?
Analysts expect a 1.59 per cent gain as the company transferred its operational infrastructure to FreshRealm.
The transaction is valued up to US$50 million with US$25 million of upfront cash received. With this payment, Blue Apron also eliminated its debt. The company stated that in moving to an asset-light model, it plans to execute further streamlining of its business, which includes reduced headcount and administrative costs, and drive additional cost savings and continued year-over-year cash burn reduction. Click here to read more on that news.
Earlier this week, Blue Apron introduced two easy meal kits with brand-new ingredients to serve up to eight, with a summer seasonal theme. For a full rundown on the menu, read more here.
Blue Apron (APRN) opened trading at US$6.50 per share. Blue Apron’s stock fell 7.73 per cent Thursday and was down 1.4 per cent by midday Friday. Year-to-date its stock has lost 36.9 per cent and is down 79.7 per cent from this time last year.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
