Blue Apron Holdings Inc. (NASDAQ: APRN) stock plunged during after-hour. What has been potentially driving it low?

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Blue Apron Holdings Inc. (NASDAQ: APRN) stock declined by 5.47% at last close while the APRN stock price falls by 13.56% in the after-hour session. “Better life via better food” is Blue Apron’s mission. Blue Apron, founded in 2012, provides home chefs with fresh, chef-designed recipes that encourage them to embrace their culinary curiosity and test their talents to see what a difference good cuisine can make in their life.


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Current Update

APRN has announced the start of an underwritten public offering of its Class A common stock. Blue Apron plans to provide the underwriter a 30-day opportunity to acquire up to 15% of the shares of its Class A common stock that will be offered in the offering. Blue Apron will sell all of the shares in the sale.

Canaccord Genuity is serving as the offering’s only book-running manager. The offering is dependent on market and other factors, and no guarantee can be given as to whether or when it will be completed, or as to the size or conditions of the offering.

Recent Past Development

Blue Apron has introduced three new items that will give customers more dinner options and add diversity to their kitchen tables. Butcher Bundles, Craft Burgers, and Add-ons are the latest additions to APRN’s dedication to providing consumers with great-tasting, high-quality ingredients that cater to a variety of cooking methods and meal alternatives.
Linda Findley Kozlowski, Blue Apron’s President and CEO stated,

These three new Blue Apron items expand their offering with greater diversity and fresh, delicious meal experiences, giving its users more ways to bring Blue Apron into their homes in a simple way. chefs’ unwavering commitment to think outside the box in the kitchen to provide their customers with new and unique flavors, variety, and flexibility sets them apart from their competitors. APRN’s consumers continue to enjoy their distinctive dishes made with fresh ingredients supplied with high animal welfare and ingredient criteria.

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