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Stock Alert: Blue Apron Jumps 17%

(RTTNews) – 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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