Blue Apron reported customers down 7% YoY and orders off 14% YoY, clear signs that the business was flailing. Poor earnings on August 8 made the short strategy even more sensible. Part of the reason for the excitement is that Blue Apron ended July with nearly a quarter of its float sold short. APRN shares gained more than 26% on Monday. The stock is up 104% over the past month, and most of that advance has taken place since August 9.īlue Apron appears to be hanging on from the meme stock rally of the past month, although it appears to have witnessed its largest gains just as other meme stocks like AMC Entertainment (AMC) and Bed Bath & Beyond met their demise during the previous week.
APRN stock is up 104% over the past month.Blue Apron stock has been volatile of late but faces resistance at $6.85-$7.00.
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