APRN - Blue Apron adds to gains and is now up 30% for the week

Blue Apron Holdings (NYSE:APRN) added another 16.34% in mid-day trading on Tuesday after the company disclosed that it plans to raise as much as $40.5 million through private placements, including landing a $500K investment from CEO Linda Findley. The new investments reset the balance sheet for Blue Apron (APRN). Upon closing the new debt, the company expects to repay its existing debt, which will move debt maturities five years out to 2027 and lower the overall debt service obligations. The debt moves are seen giving Blue Apron (APRN) a better setup to focus on executing its plans. Shares of Blue Apron (APRN) are now up more than 30% for the week and moved back over the 50-day moving average of $4.41. The 200-day moving average of $6.24 is still about 32% higher than the current price. The Seeking Alpha Quant Rating moved to Hold from Sell on April 26.

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Blue Apron adds to gains and is now up 30% for the week