Meal kit pioneer Blue Apron might be for sale, but the company's future looks more promising now that it's been rediscovered by consumers stuck at home.
Shares of Blue Apron are up nearly 25% this year, a rally fueled in large part by the company saying in February that it was evaluating"strategic options." That's seen as the equivalent of slapping a"For Sale" sign on your lawn.But February seems like eons ago. That was before many Americans were forced to shelter in place because of the Covid-19 pandemic.
"We expect an increase in quality, too, since the produce is getting to us faster," she said.Losing money in an insanely competitive businessStill, Wall Street remains skeptical about Blue Apron's long-term viability as an independent company. Only three analysts follow Blue Apron and they all currently rate the stock a"hold" -- often considered the nicer way of saying"sell." They're also forecasting more net losses for Blue Apron this year and in 2021.
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