Blue Apron

Blue Apron Shares Hit an All-Time Low

"This once-leading meal-kit company has experienced a string of setbacks since going public: its stock plunged to an all-time low of $1.80 after an IPO that debuted at $10 despite earlier private valuations near $3.2 billion. Executives’ lofty expectations have given way to steep customer churn (about 250,000 customers lost in under a year), high operating costs at distribution centers that triggered layoffs, multiple lawsuits, and strategic pivots such as plans to sell kits in grocery stores — a move that undercuts the original home-delivery advantage. Taken together, the operational problems, waning market share, and poor stock performance have left the business struggling to regain footing." - Clint Rainey