Blue Apron goes nowhere on its first day of trading (APRN)
|06/29/2017||Posted by BusinessMediaguide.Com under General World News||
Blue Apron‘s first day of trading is over, and it finished pretty much where it started.
The stock traded up to $11 after debuting at $10, and ended the higher by just $0.01 at $10.01.
The company went public Thursday under the shadow of the recent Amazon-Whole Foods merger. The e-commerce giant is expected to use the grocery chain to beef up its food delivery service.
Initially, Blue Apron shares were expected to price in the $15 to $17 range, but that range was lowered to between $10 and $11 on Wednesday morning.