Blue Apron Holdings Inc (NYSE: APRN) is having a great day in the market today, and for good reason. The company announced partnership news that clearly excited investors. As a result of the partnership, investors are sending the stock screaming for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from APRN stock as a result; and
- what we’ll be watching for ahead.
APRN Heads Up On Partnership News
As mentioned above, Blue Apron Holdings in the trading session this morning after announcing a partnership. In a press release issued early this morning, the company said that it has tapped into the Jet.com network. In fact, APRN will be the first e-retailer to offer an assortment of meal kits for purchase on Jet.com’s online and mobile platforms.
The agreement starts today. As a result of the agremeent, millions of households in New York City, Jersey City, and Hoboken, can access the company’s meals through same day or next day delivery through Jet’s City Grocery offering. In a statement, Brad Dickerson, CEO at APRN, had the following to offer:
Teaming up with Jet enables us to dynamically serve the lifestyle of metropolitan consumers, who will now be able to conveniently fill up their online shopping carts with high quality Blue Apron meals that can be cooked in 30 minutes or less while shopping for other everyday needs… This exciting launch is another step forward in our channel expansion strategy and reflects the strength of the capabilities we are developing to readily support a variety of opportunities to broaden our access to consumers.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Blue Apron, the news proved to be overwhelmingly positive. After all, the partnership with Jet.com will bring the company’s products to a large audience, likely increasing revenue for the company. So, it comes as no surprise to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:56), APRN is trading at $1.34 per share after a gain of $0.21 per share or 17.98% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on APRN. In particular, we’re interested in following the story surrounding the company’s relationship with Jet.com and the revenue generated through the relationship. Nonetheless, we’ll continue to follow the story closley and bring the news to you as it breaks!
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