APRN - Blue Apron: This Is What A Sinking Ship Looks Like

• Blue Apron has been one of the few small-cap stocks to avoid a September correction, actually nearly doubling in that time frame.
• The market has reacted positively to a planned capital raise, which is an unusual reaction.
• Fundamentals continue to be poor, with Blue Apron shedding revenue and customers.
• At the same time, higher food and shipping costs are also destroying the company’s already-slim gross margins.

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