IPO Stocks to Sell Now: Blue Apron (APRN)
Blue Apron Holdings Inc (NYSE:APRN), the convenient food kit delivery company, hit the market at absolutely the wrong time. Its IPO was just days after Amazon.com, Inc. (NASDAQ:AMZN) announced it was buying Whole Foods Market, Inc. (NASDAQ:WFM) for $13.7 billion — a deal that’s expected to alter the grocery landscape for years to come.
The problem here is Blue Apron’s margins are shrinking at precisely the wrong time. It’s expected that Amazon will enter the food delivery business using Whole Foods as its conduit and when it does, food kits may become a thing of the past.
Blue Apron doesn’t make money and probably won’t for a long time, if ever. It’s a must sell.