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Stock Alert: Blue Apron Up 20%

Shares of Blue Apron Holdings Inc. (APRN) are trading up nearly 20% on Wednesday morning, continuing its momentum at the time of social distancing.

APRN is currently trading at $14.42, up $2.37 or 19.67%, on the Nasdaq.

Blue Apron provides meal-kit delivery services and sends weekly boxes of pre-portioned ingredients and offers wines and gifts. Blue Apron Holdings serves clients worldwide.

US President Donald Trump has extended his lockdown guidelines to April 30 to curb the spread of COVID-19 pandemic, which would have a positive impact on Blue Apron as Americans would be forced to shop from home rather than at grocery stores.

Meanwhile, most of the stocks on Wall Street are down on Wednesday, reflecting the continued negative impact of coronavirus pandemic on the global economy.

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