|Bid||0.7443 x 1400|
|Ask||0.7700 x 2900|
|Day's Range||0.7150 - 0.7664|
|52 Week Range||0.6400 - 4.1500|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.45|
The meal-kit provider struggling with a rock-bottom share price has said it wants shareholders to vote on a reverse stock split. What does that mean and what’s the risk?
is planning to undertake a reverse stock split is just the latest indicator of trouble for the stock. Of course, such a move also reduces shares outstanding, so shareholders would theoretically end up with the same economic value of shares held previously. Blue Apron went public less than two years ago at $10 a share, hit $11 briefly, but it's been downhill ever since.
Purple Carrot, a U.S. plant-based meal kit company, said it will be acquired by Tokyo-based Oisix ra daichi Inc. in a deal valued at $30 million. Deal terms include an upfront payment of $12.8 million and an earn-out potential for $17.2 million through 2021. Purple Carrot is among the slew of meal-kit companies that have launched in recent years including Blue Apron Inc. and HelloFresh SE . Osisix was founded in June 2000 and generated about $580 million in revenue for the year ending March 2019, up 160% from the previous year. Purple Carrot launched in October 2014. The Invesco Dynamic Food & Beverage ETF has gained nearly 13% for the year to date, while the S&P 500 index is up 14% for the period.
Meal kit spending among consumers was growing three times as fast as that in restaurants and grocery stores back in 2015. Now, however, there are just a few meal kit companies left standing.
Sun Basket, a provider of a healthy meal kit delivery service, has raisedanother $30 million in venture capital funding
Blue Apron said on Monday it is pursuing plans for a reverse stock split. So what is a reverse stock split and why did its shares fall?
The company's board of directors unanimously recommended that stockholders vote to implement a reverse stock split of the company's Class A and Class B common stock based on a split ratio between 1-for-5 and 1-for-15. The company is in danger of being delisted by the New York Stock Exchange as it trades below $1 per share. NYSE securities cannot stay listed if they trade below $1 a share for 30 consecutive days.
Meal-kit provider Blue Apron Holdings Inc. said Monday it is pursing plans for a reverse stock split. The company's board unanimously approved the move in an April meeting, and recommended for shareholder approval a proposal for a 1-for-5 to 1-for-15 split with the ratio and timing to be determined by the board. The proposal will be voted on at the company's annual shareholder meeting on June 13. The main goal of the split is to increase the price of the company's common stock and to improve liquidity. It will also allow the company regain compliance with NYSE listing rules, which it has breached after falling below $1 for a period of 30 consecutive trading days. The stock closed Friday at 75 cents. It was not yet active premarket, but has fallen 73% in the last 12 months, while the S&P 500 has gained 5.4%.
Blue Apron Holdings, Inc. (APRN) today announced that the Company is actively pursuing plans to effect a reverse stock split. On April 17, 2019, the Company’s Board of Directors unanimously approved and recommended for stockholder approval a proposal to authorize the Company to implement a reverse stock split of the Company’s Class A common stock and Class B common stock based on a split ratio between 1-for-5 to 1-for-15, with the implementation and exact split ratio to be determined by its Board of Directors. This proposal, which is further described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (SEC) on April 29, 2019, is subject to stockholder approval at the Company’s upcoming Annual Meeting of Stockholders on June 13, 2019.
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Mosaic, founded by Blue Apron's former senior director of operations MattDavis and Sam McIntire, is entering the next phase of direct-to-consumer mealservices, with frozen foods
Shares of Blue Apron are nearing $1, close to levels that could eventually lead to its delisting from the New York Stock Exchange. The cook-your-own meal kit company said this week that its customer count dropped 30% from this time last year, to 550,000. If the stock slips below $1 and stays there for 30 consecutive days, it will be threatened with a delisting under NYSE rules.
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