APRN - Where Will Blue Apron Be in 1 Year?
Meal kit maker Blue Apron (NYSE: APRN) has struggled to remain relevant since its IPO three years ago. Its growth decelerated, it remained deeply unprofitable, and it faced a growing number of competitors. As a result, its stock eventually dropped below $1 a share -- and only dodged a potential delisting with a 1-for-15 reverse stock split last year.
After adjusting for that reverse split, Blue Apron's stock has declined nearly 97% from its IPO price of $10. Many investors have likely given up by this point, but Blue Apron's revenue actually rose year-over-year over the past two quarters, and its stock trades at just 0.2 times this year's sales.
Image source: Blue Apron.
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Where Will Blue Apron Be in 1 Year?