Blue Apron Holdings Inc.’s (NYSE:APRN) days, despite first debuting on the NYSE as recently as June 28th, may be numbered.
Amid rumors of the company having to go public to raise desperately-needed cash, they made their debut exactly when tech stocks were tumbling. As if that wasn’t hard enough, they also collided with the announcement that Amazon.Com Inc. (NASDAQ:AMZN) was buying Whole Foods, knocking the company’s pre-IPO valuation down from $3.2 billion to $1.9 billion.
Since the stock began trading in the open market, it’s down a whopping 36%.
A big chunk of that loss came this week, some might say out of left field.
Left field is, of course, where Amazon lurks before pouncing onto center stage and upending whatever game everyone’s playing. The business that Blue Apron thought it controlled got punched in the gut by what Amazon just did.
Here’s what it means for Blue Apron, and how to profit from their almost inevitable end…