NEW YORK, NY / ACCESSWIRE / August 7, 2017 / Trivag'so shares saw a big loss on Friday after reporting a net loss for the second quarter that was worse than the net income it saw in the first quarter. The company also issued a warning that the next few quarters would be slow. Shares of Blue Apron hit a new low after the company announced that several hundred employees at a New Jersey facility that ships its meal kits could be jobless soon.
RDI Initiates Coverage on:
Blue Apron Holdings, Inc.
trivago N.V. was one of the biggest decliners on the NASDAQ this past Friday, closing down 18.60%. Trading volume at nearly 8.8 million shares was significantly higher than the nearly 1.4 million shares that the stock usually sees. A disappointing second quarter earnings release is the culprit for why shares went tumbling. For the second quarter, Trivago reported 298.3 million euros for revenue. This was an increase of 67% year over year and was not why traders seemed to want to bail on the stock. It was the company's net loss of 3.4 million euros for the quarter was seriously below the net income of 7.7 million euros it saw in the first quarter of 2017. The German multinational technology company that specializes in internet-related services and products in the hotel, lodging and metasearch fields, reported a net loss of 0.01 euros per share. Wall Street was expecting net earnings per share of 0.02 euros. The company also revealed that it anticipates revenue growth to slow down significantly in the next few quarters.
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Blue Apron Holdings, Inc.'s shares closed down 6.27% on Friday and hit a brand new low of $5.70 during intra-day trading. The company announced that it would be closing a facility in New Jersey which will result in around 470 workers possibly losing their jobs if they don't transfer to another state to work at another facility. This news did nothing to calm investors down who are already pretty nervous about the company's future, especially as Amazon could be soon taking a piece of the meal delivery kit market. It also hasn't helped that the company's co-founder and operations chief Matt Wadiak stepped down in his position to become an advisor late last month. Since becoming public at the end of June, shares of the stock are down over 40%.
Access RDI's Blue Apron Holdings, Inc. Research Report at:
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