Blue Apron Holdings Inc (APRN) stock had a 19% rise in a recent week. But YTD, shares of APRN stock have shed around 28% of value. Does the rise at this moment mean that it is time to buy the stock?
Blue Apron Holdings, Inc. operates direct-to-consumer platform that delivers original recipes, and fresh and seasonal ingredients. The company's slogan is “better living through better food.” The company will release its second quarter 2021 financial results prior to the opening of the U.S. financial markets on Tuesday, August 3, 2021. This quarter financial report is still worth watching based on the results of the previous quarter.
Blue Apron had a strong 2021 first quarter with net revenue rising 27% YoY to $129.7 million, and its customers increased by approximately 15,000 YoY. More people chose to cook at home instead of eating out as the impact of the pandemic during the past year, which result in a demand increase for Blue Apron’s products.
However, Covid cases are rising again in all 50 states across U.S. as delta variant tightens its grip. If things take a turn, the U.S. could be shutting back down. Then, there will be a bigger demand for the company's products. In other words, APRN stock still has the opportunities to return to $10 or above.
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