U.S. Markets closed

Today's Research Reports on Trending Tickers: Blue Apron and Rent-A-Center

NEW YORK, NY / ACCESSWIRE / December 19, 2018 / Shares of Blue Apron and Rent-A-Center were both seeing steep losses on Tuesday. While Blue Apron had no news, traders were concerned with the latter company ending its roughly $800 million agreement to be acquired by Vintage Capital Management LLC.

The Market Edge Initiates Coverage on:

Blue Apron Holdings, Inc.
https://marketedgereport.com/report/APRN/

Rent-A-Center, Inc.
https://marketedgereport.com/report/RCII/

Blue Apron Holdings, Inc. shares tumbled on Tuesday, closing the day down 11.17% and hitting under $1.00. The stock hit a brand new 52-week low yesterday and became the third worst IPO in the last ten years. The stock has seen 90 percent of its market value disappear since its IPO last June. There was no news from the company to explain the big drop but hitting under $1.00 for the first time could have some damaging effects. The NYSE doesn't allow shares to trade below $1 which may prompt management to consider a reverse stock split to avoid being delisted from the exchange. It was in November that the company reported third quarter financial results with CEO Brad Dickerson saying on the earnings call, "In the third quarter, we were particularly pleased to outperform on the bottom line with a 61% year-over-year improvement in both net loss and adjusted EBITDA as we continue to exert financial and operational discipline."

Access The Market Edge's Blue Apron Holdings, Inc. Research Report:
https://marketedgereport.com/report/APRN/

Rent-A-Center, Inc. shares were down 9.83% on Tuesday with more losses seen in after-hours trading after the company said it has ended its roughly $800 million agreement to be acquired by Vintage Capital Management LLC after the investment firm didn’t extend the deal’s deadline. According to Vintage, the termination of the deal was "invalid" and that it plans to pursue "all available remedies" against the company. "Vintage believes that the merger agreement remains in effect and that Rent-A-Center's actions constitute a further material breach of the merger agreement," Vintage said in a statement. Rent-A-Center traded nearly 36 million shares yesterday compared to an average trading volume of just around 856,000 shares. The company also said it will be hosting a 2019 financial forecast call on Thursday, December 20th, at 8:30 a.m. ET.

Access The Market Edge's Rent-A-Center, Inc. Research Report:
https://marketedgereport.com/report/RCII/

Our Actionable Research on Blue Apron Holdings, Inc. (NYSE: APRN) and Rent-A-Center, Inc. (NASDAQ: RCII) can be downloaded free of charge at The Market Edge.

The Market Edge

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

The Market Edge has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of MarketEdgeReport.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. MarketEdgeReport.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.marketedgereport.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

The Market Edge, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@marketedgereport.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: The Market Edge