Blue Apron shares skyrocket after company says it will be profitable in 2019

Blue Apron shares skyrocket after company says it will be profitable in 2019

5 years ago
Anonymous $Dftgs0JzgE

https://www.cnbc.com/2019/01/15/blue-apron-shares-soar-21percent-after-company-says-it-will-be-profitable.html

Shares of meal-kit service Blue Apron soared 28 percent Tuesday after the company said that it believes it will be profitable in 2019.

The company's stock, which has a market value of $230 million, had recently been trading below $1. At one point it fell as low as 65 cents. If the stock had remained below the dollar benchmark it would have been in danger of being delisted by the New York Stock Exchange. Since its initial public offering in June 2017, the stock has dropped by 88 percent. Tuesday's bump boosted its stock price as high as $1.35.