APRN - Why Blue Apron Delivered a 12% Loss This Week
Shares of Blue Apron (NYSE: APRN) lost 11.8% of their value this week compared to where they closed last Friday, according to data provided by S&P Global Market Intelligence , as the momentum that had caused the stock of the meal-kit delivery outfit to more than double over the past month ran out of steam.
Blue Apron was the beneficiary of continued bullish investor sentiment on Reddit because of its high short-interest ratio, which had stock traders rallying around its shares. But much of the enthusiasm finally stalled out midweek, and its shares began trading lower again.
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Why Blue Apron Delivered a 12% Loss This Week