As of this writing (3/17), Blue Apron Holdings Inc (NYSE: APRN) is up 65% on the day, a clear bet on social distancing due to the COVID-19 pandemic.
As state governments across the country shut down the doors of bars and restaurants, consumers will look elsewhere to find quick and easy ways to have a meal.
And Blue Apron, perhaps the most popular of the subscription meal services, provides exactly that.
Before the market opened, the stock was up 33.51%. This is coming after yesterday's gain of 67.54%.
But while the rest of the stock market was going up in Q4 of 2019 and early Q1 of 2020, APRN was crashing. On Oct 1, APRN was trading at a price of $8.38…
But now, with more and more restaurant and bar closings looming and trading around $6.50, is Blue Apron a “buy” candidate?