#3 - Blue Apron (NYSE:APRN)
If a company ever needed a lifeline, it was Blue Apron (NYSE:APRN). The company was struggling to get its value proposition across to investors, and consumers. The manufacturer of pre-packaged meal kits was finding its price too high to stimulate demand.
But then, we all got told to shelter in place. And all of a sudden, for those who found their paychecks uninterrupted, having a couple of nights a week where you don’t have to think about what’s for dinner didn’t seem so bad.
In the three trading days between March 16 and March 18, APRN stock surged over 700%. It has since given back some of those gains. Some of that is due to skepticism that the current crisis will be a game-changer for the company. But behavioral dynamics are what they are. Blue Apron’s recent strategy has been to cater to the customers that liked their service and were loyal to it.
Now they have a chance to “prove themselves” to a new group of customers. The company is being guarded about its future prospects. But there’s no question that Blue Apron deserves watching. This is good publicity for the brand. And more importantly, it’s publicity the company doesn’t have to pay for.
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
