---
title: Investors Had All But Given Up on One-Time Unicorn Blue Apron. Then Came Coronavirus
description: With Americans facing weeks or even months indoors, some investors took a new look.
authors:
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    role: Data Reporter
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published: '2020-03-19T17:29:09.000Z'
modified: '2024-01-10T15:35:12.000Z'
section: Investing
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word_count: 245
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type: Article
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![Blue-Apron-Meal-Delivery](https://img.money.com/2020/03/gettyimages-802933548.jpg)

Just a week ago, meal kit company [Blue Apron](https://money.com/pr/u44fa9021faa?ap_referrer=https%253A%252F%252Fmoney.com%252Fblue-apron-coronavirus%252F) 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](https://investors.blueapron.com/~/media/Files/B/BlueApron-IR/press-release/q4-2019-earnings-release.pdf), as revenue slid to $455 million from $668 million.

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