As expected, the disappointing earning news was out from Blue Apron today. It lost 47 cents a share, which was far worse than the 27 cents loss forecasted.
The stock has now been down almost 50% since the IPO at $10 a share. The outlook for the company still does not look promising. It recently just offered its employees to either accept the transfer to a new work location or take a hike. It stated that most of its employees accepted the offer. Amazon also decided to enter the meal-kit delivery market. Blue Apron for sure has a steep competition to fight.