![]() ![]() The stock spiked as high as $28.84 per share before falling back to around $11 as of this writing. The company even ramped up hiring in an environment where companies have laid off millions of workers. However, with coronavirus forcing restaurants across the country to close their doors, Blue Apron saw a sudden surge in business. The stock had fallen to as low as $2.01 per share in early March. The 1-for-15 reverse stock split initiated last June did nothing to prevent Blue Apron from continuing its extended decline. Coronavirus saves Blue Apron, at least for nowĮarly this year, Blue Apron stock was approaching penny-stock status for a second time. While the increase in Blue Apron stock may offer some relief to investors, this recent rally looks more like a selling opportunity than a sustained comeback. Moreover, at some point, conditions will return to normal. ![]() However, earnings forecasts still do not point to profitability. ![]() Investors subsequently bid the beleaguered stock higher amid this unexpected increase in demand. With much of the country forced to stay home, the meal kit provider saw a sudden surge in orders. One of the more surprising winners in the COVID-19 crisis has been Blue Apron ( APRN 4.55%). ![]()
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