- Blue Apron management confirmed many of my fears regarding churn and forthcoming challenges associated with new financial covenants.
- The company will be challenged to meet both its liquidity and subscriber requirements which necessitate conflicting operational decisions.
- I see 3Q2020 as a potential breaking point where the company could go under.
- M&A is not likely and this has nothing to do with the sell-off despite the Barron's article.
- Reiterate very bearish. Expecting delisting.
For further details see:
Possible Bankruptcy & How To Trade The Next Earnings Call