Plus   Neg

Stock Alert: Blue Apron Jumps 17%

Shares of Blue Apron Holdings Inc. (APRN) are gaining almost 17 percent or $2.05 in Tuesday's morning trade at $14.23 despite the absence of any particular corporate event.

New York-based Blue Apron delivers meal-kit delivery services. The company operates a direct-to-consumer platform that delivers original recipes as well as fresh and seasonal ingredients. Blue Apron has benefited from the coronavirus-induced lockdowns as Americans were forced to shop from home rather than at grocery stores.

In May, Blue Apron said it continued to see heightened demand for its meal kits as a result of changes in consumer habits related to the COVID-19 pandemic. The company has scaled operations to meet the increased demand and has started re-introducing variety in its menu.

Further, the company reiterated its 2020 second-quarter guidance provided in late April. The stock has traded in a range of $2.01 to $28.84 in the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Avalon Furniture is recalling about 9,500 units of Cottage Town Bedroom Furniture collection sold through Rooms To Go due to violation of federal lead paint ban, the U.S. Consumer Product Safety Commission said in a statement. According to the agency, the base coat paint used on pieces within the furniture collection contains levels of lead that exceed the federal lead paint standard. Sanofi and Regeneron Pharmaceuticals, Inc. announced that the U.S. Phase 3 trial of arthritis drug Kevzara (sarilumab) 400 mg in COVID-19 patients requiring mechanical ventilation did not meet its primary and key secondary endpoints. In the trial, Kevzara was added to best supportive care compared to best supportive care alone (placebo). The companies have stopped the U.S. trial. Shares of Moderna Inc. (MRNA) slipped over 5% on Thursday after a report claimed that the biotechnology company's late-stage trial for a coronavirus vaccine will be delayed. Moderna is developing mRNA-1273 in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID). The...
Follow RTT