Homepage / Technology / Blue Apron shares plunged more than 17% in their first week on the market
Mostbet İncelemesi 2024 » Spor Bahisleri, Giriş & Oyunla Başkanın ilk icraatı işçi kıyımı olmuştur! 719 7slots kumarhane 90 Business Online Solutions What Is a Board Analysis? The Importance of Planning and Programs Development How Board Governance Software Improves Meetings and Governance How to Craft a Successful Board Meeting Reminder Benefits of a Virtual Data Room for Bankruptcy VDR Example for Business Hong Kong ユースカジノの登録方法を初心者にも分かりやすく図解入りで解説 チェリカジ 5 Как быстро пополнить счет в Казино Х в любой валюте Официальный сайт Up X казино и мгновенные игры Paşa Casino Mobil Uygulama 2025 Giriş Üyelik Bonusu Freespin No Deposit Bonus Casino Free Spins In New Zealand What Are The Best Online Casinos For Real Money Pokies And Bonuses In Australia Дэдди Казино официальный сайт Джойказино: информация про официальный сайт Glory Casino giriş için buraya tıkla ve Türkiyede en popüler casino kullanıcısı ol Les Gambling establishments en Ligne en France 2024 200% Reward + 300 Free Rotates LevelUp Internet casino Melbourne En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi Le meilleur casino en ligne franзais Extra Casino avec le dйpфt minimal le in addition bas Yeni Casino Siteleri ᐈ Çevrimiçi Kumarhaneler Mart 2024 Les gambling establishments en ligne proposent une grande variйtй de jeux de internet casino gratuits. Türkiye’deki Resmi Web Sitesi Google Play, Türkiye’de kumar oyunlarına izin verecek Her Gün Tatil Olsa ORDU’DA PAZARTESİ GÜNÜ FINDIK FİYATI NASIL? كازينو اون لاين الكازينوهات الممتازة على الإنترنت ألعاب الكازينو المباشرة مينا كازينو العر Google Play, Türkiye’de kumar oyunlarına izin verecek Domain Sorgulama & Domain Fýrsatlarý Canlı Casino Siteleri: 2024 Güvenilir Siteler Seçilmiştir Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın 1xbet Türkiye Giriş Empieza Kayıt 202 Kumar Ve Kumarhaneler Hakkında Pek İlginç 21 Bilgi Kumarhane Doğru Yazımı Nedir? Tdk Ile Kumarhane Kelimesinin Doğru Yazılışı! Mobilbahiste En İyi Kumar Bonusları Ve Kazançlar Mobilbahis Giriş Sayfası On Line Casino Siteleri En Iyi Casino Siteleri 2024 Mostbet: Türkiye’de Internet Casino Mostbet Online Slotlar Ve Canlı-casin Pin Up Casino Oyna Türkiye, Pinup’un Sah Web Sites Ifade Haberleri Son Dakika Ifade Hakkında Güncel Haber Ve Bilgiler “önceliğimiz Transferin Önünü Açmak, Görüştüğümüz Yerler Var” On Line Casino Nuh’un Gemisi Deluxe Resort & Spa, Kıbrıs The Benefits of Document Management Bonus Veren Siteler 3 000 Den Fazla Online Oyunu Ücretsiz Oyna En Tehlikeli Kumar Oyunu Ekşi Sözlük Deneme Bonusu Veren Siteler Deneme Bonusu 2024 Explore the Magic of WildCardCity Güvenilir Bahis Siteleri En İyi Kumar Siteleri Balıkesir Triatlonuna Avrupadan Ödül Tricks of the Aviator gambling establishment game by Spribe Çevrim Içi Kumar Siteleri “bonus” Yalanıyla Kandırıyor En Güvenilir Canlı On Line Casino Siteleri Xbetting-tips Com Uncovering the Abundant Tapestry of Ozwin Gambling establishment Evaluating Board Portal Providers Uncovering the Wealthy Tapestry of Ozwin On line casino Electronic Data Area Providers Evaluation Cobra Internet casino: Raising the Australian On the internet Video gaming Practical experience 4 Things to Search for in Safeguarded Cloud Safe-keeping Fastpay On line casino Australia – Simple and No-Taxation Wagering Web page officielle franзaise de Joka Gambling establishment The Software Development Universe Game Woo Internet casino – Enjoy Slot machine games around australia Ostdeutsche Biersorten What Are Virtual Data Rooms? Vitamin D Receptor Polymorphisms Revue du Casino BlackLabel Faktory, kterй ovlivnujн hodnocenн ceskэch online kasin How to Make the Most of Your Web Development Organization and Advertising Efforts L’essor des casinos en ligne en France Boost Meeting Efficiency With Boardroom Technology Developments WildJoker Casino WildCardCity On line casino – Guaranteed Australian Gambling Portal New Post WildCardCity Casino – The Ideal On the internet Gambling establishment within australia Modern Technologies Produce Sharing Documents Online Faster and More Protect Free Virtual Info Room pertaining to Speedy Due Diligence A Review of Data Area Software For people who do buiness Five Board Bedroom Features Which will help You Acquire a More Productive Boardroom Electronic Systems To your Business Understanding Legal Terms and Laws in Today’s World The Laws and Contracts of Hollywood: A Sunset Blvd. Tale Legal Discussion Between Johnny Cash and Antonin Scalia Legal Insights: What Teens Should Know Legal Issues and Exceptions: What You Need to Know Legal Insights and Expert Analysis Celebrity Dialogue: Legal Matters in the 21st Century Famous Personalities Discuss Legal Issues The Boys in the Boat: Legal Advisors and The Quest for Legal Knowledge Understanding Legal Matters: Q&A on Criminal Law, Joint Ventures, and More Enticing Title The Departed: Understanding Basic Work Requirements and Legal Rights Youth Slang Blog Article Legal Insights: A Journey into the World of Law The Ins and Outs of Legal Matters: Everything You Need to Know

Technology

Blue Apron shares plunged more than 17% in their first week on the market

Blue Apron is among the worst-performing IPOs year-to-date — and it’s only been one week.

That’s according to Kathleen Smith, principal at Renaissance Capital, a manager of IPO-focused ETFs.

“The trading on this has been just awful,” Smith said. “Some of it is the Amazon fear but that’s not the only thing. Some of it is the IPO market itself. Investors are jumpy around valuation.”

The “Amazon fear” stems from a merger between Amazon and Whole Foods, announced just ahead of Blue Apron’s public offering. The e-commerce giant beat out six other interested parties to buy the natural grocer, according to new details revealed in a proxy statement filed with the Securities and Exchange Commission.

Blue Apron, which delivers fresh ingredients for recipes, has been battling the headlines ever since, said David Seaburg, head of sales trading at Cowen and CNBC contributor.

“Although it’s a neat concept, the dominant players within the space will compete at a level that won’t allow Blue Apron to be successful long term,” Seaburg said. “It’s all about scale, it’s all about relevance. You look at Kroger, Whole Foods and Amazon. They can take this section of the market over from a price perspective alone in a very short period of time.”

Source: FactSet

Shares of Blue Apron were down more than 4 percent on Friday afternoon, ending the week down 17 percent. At $7.73, the share price was far below the IPO price of $10 a share.

Blue Apron’s not the only recent IPO that had a tough first week: Tech company Tintri closed the week down nearly 6 percent, after going public last week, a hair lower than its IPO price.

“I think you saw the air come out of it when the price was reduced,” Seaburg said. “Because of the scare that Amazon put into the marketplace with their strategic move. … For any investors that have a long-term view, maybe the narrative has shifted.”

Both Tintri and Blue Apron lowered the expected range for pricing before going public. With a market capitalization of around $1.5 billion on Friday, Blue Apron traded at less than the $2 billion it was valued at by its backers in the private market.

It comes after a combination of busy activity in the venture capital market, paired with a dearth of IPOs over the past few years.

“There is a world of difference between a private valuation versus the public market, because there are so few involved in [the private market],” Smith said. “In this case, it’s a big disparity. It could be that the company expects certain things about valuation based on the sweet nothings whispered by their early investors. When you have a company that’s not making money, the anchor for its valuation is very weak.”

Still, Blue Apron isn’t the year’s worst performing IPO, Smith said. Indeed, Renaissance’s fund, which tracks IPOs, is just off all-time highs, as companies who went public earlier are stabilizing and doing well, Smith said.

Smith pointed to Facebook, which languished for months after its IPO. But Blue Apron’s valuation could weigh on other similar companies who are considering an IPO, Smith said.

“Whether the IPO price was right or not, these things have to work themselves out,” Smith said. “Markets have been much more subdued and institutional than in the past. Institutional investors are really picky about wanting to make money. …. At some point investors are going to take the other side of this trade.”

Disclosure: Cowen and Company, and or its affiliates make a market in the stock of Amazon.com securities.

Source: Tech CNBC
Blue Apron shares plunged more than 17% in their first week on the market

Comments are closed.