APRN - Blue Apron (APRN) Stock Falls 33% on CFO Departure Stock Sale
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Blue Apron (NYSE:APRN) stock is sliding lower on Monday as investors react to its CFO leaving the company and plans for a stock sale.
Starting with that CFO news, Randy Greben is resigning from the role on Oct. 17, 2022. According to the company’s CFO, he’s taking on a position at another company. Cohen has agreed to help the meal kit company with a smooth for his successor.
Taking over for Greben temporariliy is Mitchell Cohen. This will see him take on the interim CFO position following Greben’s departure. Cohen will remain in that role while the company searches for a permanent replacement for Greben.
APRN Stock Sale
The other news hitting APRN stock today is a stock sale agreement with Canaccord Genuity. Canaccord Genuity will be acting as a sales agent for the company as it offers up to $14,999,425 worth of its common stock.
Blue Apron notes that this agreement will allow it to sell shares of APRN stock from time to time as it sees fit. The deal with Canaccord Genuity includes a 3% commission rate as it handles the sale of the company’s stock.
Today’s news has heavy trading of APRN stock pulling shares down. As of this writing, some 6.5 million shares of the stock have changed hands. That’s already matched the company’s daily average trading volume.
APRN stock is down 33.1% as of Monday morning. The shares are also down 42.9% year-to-date.
Investors looking for more of the hottest stock market news are in luck!
We’ve got them covered with all of the most recent stock market news for Monday! A few examples include why shares of LogicBio (NASDAQ:LOGC), Myovant Sciences (NYSE:MYOV), and LiveWire Group (NYSE:LVWR) stock are on the move today. You can get all those details from the following links!
More Monday Stock Market News
- Why Is LogicBio (LOGC) Stock Up 600% Today?
- Why Is Myovant Sciences (MYOV) Stock Up 30% Today?
- What Is Going on With LiveWire (LVWR) Stock Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
More From InvestorPlace
- Buy This $5 Stock BEFORE This Apple Project Goes Live
- The Best $1 Investment You Can Make Today
- Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”
- It doesn’t matter if you have $500 or $5 million. Do this now.
The post Blue Apron (APRN) Stock Falls 33% on CFO Departure, Stock Sale appeared first on InvestorPlace.