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 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.

To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.net

To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven Fromm

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