APRN - Why Blue Apron Stock Exploded Higher on Tuesday
Shares of Blue Apron Holdings (NYSE: APRN) charged sharply higher Tuesday, gaining as much as 39%. As of the market close, the stock was still up 15.9%.
The catalyst that sent the meal kit company higher was a rally that appears to have sent short sellers running for cover.
A check of all the usual sources, including regulatory filings, press releases, and more, found no company-specific information that would explain the unusual move higher today by Blue Apron. However, given the battleground nature of this stock and the company's high short interest, this has all the markings of a short squeeze.
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Why Blue Apron Stock Exploded Higher on Tuesday