Blue Apron stocks are still not showing any sign of life after the Albertsons news.
Albertsons bought a rival meal-kit service company called Plated. Blue Apron shares jumped initially right after the news because the news meant less competition for Blue Apron.
That didn’t last.
The Blue Apron stocks have fallen by as much as 50% from the $10 IPO price. The market sentiment is that the steep competition from Amazon is going to hurt the company’s bottom line.