Blue Apron headquarter in Austin, Texas. (image via Glass Door)

Blue Apron's Stock Went Split This Week

Toska Dhia Andana
Market & Investment
Stocks & Bonds
Jun 19, 2019
3322
Blue Apron is a go-to service for people who want to cook at home, but do not have the time to do a grocery shopping. Consumers would only need to order packages on their apps and all of the ingredients (already packed in portions) will be delivered in front of the door step. For a few years back, Blue Apron was loved by a lot of people, but they have been on a decline, as some people think the price is too expensive than going to the groceries.

Previously, the company is a part of the New York Stock Exchange. However, as the time went on, the company still goes downhill and the shares went down as much as 12.4% on June 15, at 2:28 p.m. EDT. Blue Apron actually held a press release on June 14, saying that they will split stock to Class A and B stock. They explained that Class A shares trade publicly, while Class B stock is held by insiders and carries ten times the voting rights. The company is hoping that the split could bring the company back to New York Stock Exchange’s standards.

However, it is predicted that the split stock will only be a temporary band aid to them. Although Blue Apron offers a 55 cents stock, but stocks with share prices below $1 are categorize as junk investments by other people. Not only that, people would think that the end is coming soon for the company.

Source: https://finance.yahoo.com/news/why-blue-apron-stock-tumbled-183800380.html

USA , BlueApron , Startup , Cooking