Blue Apron Sinks Back Below $1 as Shares Fall 10 Percent

(Bloomberg) -- Blue Apron shares fell below $1 on Monday, in the latest example of heavy selling in the at-home meal-kit delivery company.

The stock dropped as much as 13 percent and was trading at its lowest level since Dec. 27. Since a recent closing high in mid-February, the stock has dropped almost 40 percent.

Blue Apron Sinks Back Below $1 as Shares Fall 10 Percent

Blue Apron dropped 26 percent last week, with much of the losses coming after Bloomberg reported that an offering of 15 million shares was priced at a discount.

The stock first fell below $1 in mid-December and subsequently dropped to a record closing low of about 66 cents before rebounding. Shares remain up more than 45 percent from that closing low.

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