APRN - Blue Apron: I Warned You They Would Dilute Now I Am Seeing Signs Of Institutional Selling

Despite A Prolonged Cash Runway, Institutions Appear To Be Driving The Recent Sell-Off

Source: Robintrack

Blue Apron (APRN) management has recently disclosed plans for a ~$40 MM capital raise through a secondary offering of 4 MM shares of common equity. This capital raise would be highly dilutive in nature to the tune of approximately 33% going from fully diluted shares outstanding. Given my recent coverage of the stock, and the numerous warnings I have issued about this exact possible outcome dating back to January, this should not have come as