Blue Apron hits new low after analyst slaps on $2 price target [MSN Money]
Blue Apron Holdings, Inc. (APRN)
Last blue apron holdings, inc. earnings: 4/29 06:15 am
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Source: MSN Money
© Provided by CNBC Tuesday was another crushing day for Blue Apron (APRN) on Wall Street. Popular Searches Shares fell more than 12 percent, hitting a new closing low of $7.14 a share, just above the all-time intraday low of $7.08 a share. The move lower came after Northcoast Research released a note recommending clients sell the stock, placing the target price at $2 a share. The note from analyst Chuck Cerankosky marked one of the first formal reactions to Blue Apron's June IPO from a Wall Street analyst. Shares have fallen more than 20 percent month-to-date, amid jitters surrounding the company's valuation and a merger between Amazon and Whole Foods . "Our financial outlook for the company is one of continued losses," Cerankosky said. "Sales growth seems to be dependent at this time upon promotional discounts." Blue Apron, backed by First Round Capital, SG Growth Partners and Bessemer Venture Partners, lost nearly as m
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