Blue Apron (NYSE:APRN) plunges on the open after execs warn on the earnings conference call about unexpected costs related to setting up a new manufacturing facility.
The company's management also said that labor wage pressure is a factor for its bottom line.
Shares are down 16.35% to $5.19 and traded as low as $5.03. Shares of HelloFresh owner Rocket Internet are down 1.45%.
Are hopes for a HelloFresh IPO fading? I’ve never tried Blue Apron, but I have tried Hello Fresh and we cancelled after a month. The food was always good, not great, and for the price if you’re at least a halfway-decent cook you can definitely do better.
