Blue Apron closed flat on the first day of trading after its shares were offered to the public. With shares priced at $10 each, activity spiked in the morning and was quickly pared back by the afternoon.
The company closed, unchanged, at $10 a share.
With unnecessary marketing and aggressive promotion, Blue Apron faces a net loss of $54.9 million as opposed to $30.8 million in 2014, leaving potential investors reason to question its ability to maintain a sustainable business model.
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