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Blue Apron Firmly Negative After Early Volatility

Shares of Blue Apron Holdings Inc. (APRN) are firmly in negative territory in late-day trading on Wednesday after seeing considerable volatility early in the session. Blue Apron is currently down by 4.1 percent.

The drop by Blue Apron comes after the meal-kit service reported a narrower than expected third quarter loss but revenues that missed expectations.

Blue Apron reported a third quarter loss of $0.18 per share on revenues of $150.6 million, while analysts had expected a loss of $0.22 per share on revenues of $157.9 million.

The company also announced strategic actions to accelerate its path to profitability, including a 4 percent reduction in its total workforce.

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