There’s bad news for investors in Blue Apron stock as APRN is down below $1.00 today.
The drop below $1.00 for Blue Apron (NYSE:APRN) stock comes after a turbulent year for the company. The start of the year saw the stock sitting at $4.13 per share. However, it experienced a sharp drop during the months after.
The whole year wasn’t bad for Blue Apron stock. There was a period were APRN stock was able to climb back up to a value of $3.92 per share. Unfortunately for the stock, this didn’t last long as it continued to fall again in the following months.
Now that the year is almost done, Blue Apron stock isn’t looking good. The stock is currently down 75% since the start of the year and it doesn’t look like it will have time to recover before 2018 comes to an end.
What exactly has been hitting Blue Apron stock so hard this year? Well, it’s really just more of the same for the company. This includes continuous poor earnings reports that are unable to meet Wall Street’s estimates.
What’s even worse for Blue Apron stock is the likelihood that it will be delisted from the New York Stock Exchange. The stock hasn’t been performing well since its IPO last year, which valued the stock at $10 per share. With the price of the stock dipping below $1, it probably won’t be long before the NYSE moves to delist the stock.
APRN stock was down 6% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.