Blue Apron goes nowhere on its first day of trading
Aug 26, 2024, 14:44 IST
Blue Apron's first day of trading is over, and it finished pretty much where it started.
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The stock traded up to $11 after debuting at $10, and ended the higher by just $0.01 at $10.01.
The company went public Thursday under the shadow of the recent Amazon-Whole Foods merger. The e-commerce giant is expected to use the grocery chain to beef up its food delivery service.
Initially, Blue Apron shares were expected to price in the $15 to $17 range, but that range was lowered to between $10 and $11 on Wednesday morning.
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