In early Monday trades, Blue Apron shares plunged as low as $6.51, off more than 11 percent from Friday's close and almost 33 percent below their June 29 IPO price of $10 on the New York Stock Exchange.
Blue Apron holds the title as the largest meal-kit provider in the US, followed by German-based HelloFresh. The stock opened for trading at $10 per share on June 29. Just last week, the stock closed at a new low after an analyst slapped Blue Apron with a $2 price target, citing difficulty with the business ever becoming profitable.
While Blue Apron is perhaps the most extreme example, its plight highlights the unfortunate reality facing many companies in the retail industry: Amazon is coming, and there's nowhere to hide.
Any Amazon meal kits to come in the future will likely be sold through Amazon Fresh, the company's online grocery ordering and delivery service. Amazon already offers meal kits, such as one from Sequential Brands Group Inc.'s Martha Stewart brand.
Stock in Limelight: Covanta Holding Corp (CVA)
LLC now owns 16,039 shares of the energy company's stock worth $252,000 after buying an additional 94 shares in the last quarter. Financial & Investment Management Group Ltd. raised its stake in Covanta Holding Corporation by 25.0% in the second quarter.
Peoples Bancorp Inc. (PEBO) Rating Lowered to Sell at BidaskClub
Following the completion of the transaction, the insider now owns 2,051 shares in the company, valued at approximately $56,730.66. Insiders own 1.88% of the company's stock. 349 shares valued at $11,199 were sold by McGill Daniel K . on Wednesday, March 8.
Carnival Corporation (CCL) Issues Q3 Earnings Guidance
Hl Fincl Ser Lc, Kentucky-based fund reported 239,508 shares. 11,100 are owned by Boothbay Fund Management Ltd Liability. The stock shows a Short Ratio of 5.88 with the total number of Shares Short (Previous Month) of 16.18 Million.
Vehicle lands on roof of house
Although Redding was was able to maneuver himself around in the living room after the crash the house may not be habitable again. The driver is said to be alert and responsive but still in a critical condition following the accident close to St.