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APRN - Blue Apron Holdings: Not A Bottom-Fishing Candidate
Blue Apron Holdings Inc. Class A
In a quarter where Hello Fresh has managed to put up massive growth in the home meal-kit industry, Blue Apron (APRN) continues to hemorrhage customers, with quarterly revenue growth rates following; down 34% year-over-year. Blue Apron is one of the worst-performing IPOs since its 2017 debut, and this isn't surprising at all, given how poorly they continue to perform across all segments of their business. The fact that Hello Fresh has been able to put up strong double-digit growth suggests that this is not an industry issue, but an execution issue for Blue