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By Prachi Bhardwaj
March 19, 2020
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Just a week ago, meal kit company Blue Apron was a stock investors seemed to think was worth pocket change. Fears that the coronavirus will keep millions of Americans indoors — and cooking — seem to have changed that, at least for now.

Once valued at nearly $2 billion, Blue Apron paved the way for meal kit services when it first launched in 2012. But it was all downhill after it went public in June 2017 at $150. Plagued by unfortunate marketing decisions, new competitors, and an Amazon purchase of Whole Foods, Blue Apron had fallen $60 by the end of 2017 and hit $2.28 on Friday, March 13th.

As coronavirus fears raised the prospect of millions of Americans spending weeks staying away from bars and restaurants, the stock jumped all the way to $16.25 on Wednesday, before falling back somewhat. It was trading at about $12.50 mid-morning Thursday.

Blue Apron’s market value — about $165 million — remains a small fraction of its nearly $2 billion valuation in 2017. Blue Apron’s sudden jump provides a bright spot at a time when the stock market has lost roughly a third of its value since its mid-February peak.

In a statement to Money, the company said orders were up, but didn’t say how that would affect revenue or profits, adding that “the situation remains very fluid.”

For 2019, Blue Apron posted a loss of $61 million, as revenue slid to $455 million from $668 million.

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Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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