NEW YORK, NY / ACCESSWIRE / July 30, 2018 / Both Shopify and Blue Apron Holdings saw losses on Friday on no particular news, although a WSJ report did discuss challenges that meal kit delivery companies are facing. Both companies are set to release their earnings reports this week.
RDI Initiates Coverage on:
Blue Apron Holdings, Inc.
Shopify Inc. shares closed down nearly 6% on Friday with about 2.1 million shares traded. There was no news from the company nor any catalyst for the decline. The company is scheduled to release its second-quarter financial report before the market opens on Tuesday, July 31. In the first quarter, Shopify reported revenue of $214.3 million, which was an increase of 68% YOY. While it may have seemed impressive, it was the slowest rate of growth Shopify had seen since it debuted in the market back in 2015. For the second quarter, the company expects revenue in the range of $230 to $235 million. This would mean
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Blue Apron Holdings, Inc. shares closed down 10.39% on Friday on nearly 6.5 million shares traded. The stock recuperated some of those losses with a 1.45% gain in after-hours trading. The meal kit service company didn't have any news to explain the fall but Wall Street is preparing for the company's earnings report this week. Concerns over the meal kit industry and a
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