Blue Apron was down almost 20% on Tuesday.
Blue Apron’s stock price plummeted again on Tuesday after the company said its new fulfillment center in Linden, New Jersey, was experiencing “unexpected costs” and causing a drag on profits.
The future does not look bright for the company as the meal kit delivery competition heats up after Amazon joined the battle field. The company seriously needs some new strategies to turn itself around.
Blue Apron has been down since its IPO. It is now down nearly 70% year to date.