50% off Blue Apron – the Stock Price Not the Meal Discount

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.

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