#5 - Blue Apron (NYSE:APRN)
It could be easy to look at a stock like Blue Apron (NYSE:APRN) and think that it’s time to walk away. The stock has had a fine run this year. And in fact, as the nation was locking down shares of Blue Apron surged over 600%.
The manufacturer of pre-packaged meal kits has had a couple of notable issues. In some cases, customers were finding its price too high to stimulate demand. In other cases, the company didn’t really have a moat and that has allowed the field to get crowded.
But the pandemic has created an opportunity. Prior to the lockdown measures, Blue Apron was strictly catering to its loyal, passionate existing base. Have they had a chance to grow their base? I’m optimistic. APRN stock is up over 60% since May 1, a time period that coincides with the nation reopening. This suggests to me that customers have found something they like.
The simple fact is that many Americans are not going to feel comfortable eating at restaurants until there is a vaccine or treatment for the virus. This gives Blue Apron a longer runway. Yes it has company in this space, but it bears watching.
About Blue Apron
Blue Apron Holdings, Inc operates a direct-to-consumer platform that delivers original recipes with fresh and seasonal ingredients. The company also operates Blue Apron Market, an e-commerce market that provides cooking tools, utensils, pantry items, and other products. In addition, it offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals.
Read More - Current Price
- $12.99
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
