- 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.
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