![]() Salzberg resigned from the company board in September 2021. The decline in the company’s stock price came amid former company director Barry Salzberg selling 267,354 shares since his last 13D form to the Securities and Exchange Commission ( SEC) was filed in September 2021.Īs of 4 October 2022, Salzberg owned 1.6 million shares in Blue Apron, according to a SEC filing of the same date. The company appointed Mitchell Cohen to serve as interim CFO after Greben’s departure.īlue Apron said in its second-quarter earnings release:, “As a result of persistent inflationary pressures which are impacting consumer demand, the company believes it is prudent to adjust its 2022 revenue growth target to 7% to 13% compared with 2021, and focus on driving to profitability.” Greben will leave Blue Apron on 17 October, 2022. The shares issuance came amid a lowered 2022 revenue growth target and the resignation of CFO Randy Greben toward the end of September. ![]() However, the stock sale was not taken lightly by investors. The company intends to use the net proceeds for general corporate purposes, including working capital, operating expenses and capital expenditures. Linda Findley, the company’s president and CEO, said that the company’s shares issuance program will provide it with additional capital to move the business forward. The Blue Apron stock sale had a total of 4.6 million shares of Class A common stock sold at an average sale price of $3.25 a share, bringing the total value of the shares offered to $14.5m. The index has lost more than 21% since the beginning of 2022.įrom the date of the firm’s listing on the NYSE, the share price has lost more than 98% of its value, falling to $2.14 (as of 12 October), according to Morningstar.Ī quick Blue Apron stock price analysis shows that Blue Apron stock hit an all-time high of $150 on June 29, 2017, when it went public.īlue Apron stock sale hurts the share priceĪ major reason behind Blue Apron stock’s fall was the firm’s decision to sell nearly $15m-worth of its Class A common stock in an at-the-market equity offering program earlier this month, the company said on 6 October. ![]() The loss was wider than the NYSE Composite, where the stock is listed. ![]() Try demo Blue Apron stock price suffers downtrendīlue Apron Holdings stock has fallen over 65% year-to-date, as of 12 October.
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