Welcome

Is Blue Apron’s Flameout an Omen for 2019’s Unicorns?

April 5, 2019, 4:06 PM

It was a big week for Blue Apron shareholders.

The meal-kit delivery company named a new chief executive officer, someone who’d bring a vision on how to jump-start sputtering sales, and the stock spiked 17 percent in a matter of minutes.

Workers outside the New York Stock Exchange prepare for Blue Apron’s initial public offering on June 29, 2017. The stock has since declined.
Photographer: Michael Nagle/Bloomberg

All of which means essentially nothing in the grand scheme of things; the stock is still down 90 percent since its IPO in 2017. The numbers actually could be worse: had the bankers in charge of the deal—a group led by Goldman Sachs Group and Morgan Stanley—stuck to their initial plan and priced the stock at as much ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.