NEW YORK, NY – Blue Apron stocks rose 0.7% in Friday morning trading, following analyst Matthew Trusz's initiation of coverage of the company’s buy rating, according to Market Watch. Trusz feels that this growth reflects a shift for the company away from the previous operational issues it faced.
Trusz places the company’s current market value at $8 billion and expects that the company will continue to grow as consumers become more comfortable with online grocery shopping. Market Watch reports that Trusz sees “good reasons” for Walmart to partner with or buy blue apron outright.
Although Blue Apron stock has fallen 79% from its June IPO price, this present increase could indicate a positive shift in consumer and mainstream retailer perception of grocery delivery. With Blue Apron’s appointment of Brad Dickerson from CFO to President and CEO late last year, the company looks toward to the future.
As we reported in December, Dickerson feels that, “We have an exceptionally talented team at Blue Apron that is focused on taking decisive actions to transform the business, continuing to innovate our product in new and diverse ways, and unlocking future growth opportunities.”
Does this observation indicate the next major deal in our industry? To stay up to date on all shifts in the industry, keep reading AndNowUKnow.
