Blue Apron’s Turn Around On The Horizion

02:20 12/01/2017

A change is as good as a rest, Blue Apron Holdings, Inc. APRN  shareholders can now rest knowing the change they have been hoping for to see a turnaround in Blue Apron fortunes can now have a chance of being actualized. Dubbed the worst performing IPO this year, Blue Apron shares have been on a downward spiral since their IPO date in June.

There seems to be no bottom in sight for the poorly performing stock that has a 52 week high of $11 and a 52 week low of $2.94.

Today’s attempted rebound of the stock can be attributed to the news Matt Salzberg, Blue Apron’s co-founder, had stepped down from his role as President and Chief Executive Officer and had been named Executive Chairman.

The Company’s Board of Directors has henceforth appointed Brad Dickerson as President and Chief Executive Officer.

He will assume day-to-day leadership of the Company and will also join Blue Apron’s Board of Directors. Dickerson, a consumer and capital markets veteran, has served as Blue Apron’s Chief Financial Officer since he joined the Company in February 2016.

Before joining Blue Apron, Dickerson, 52, spent eleven years at Under Armour in senior leadership roles including as Chief Financial Officer and Chief Operating Officer. As one of Under Armour’s most tenured executives, Dickerson helped advance the company’s growth strategy, leading strong teams around him that took Under Armour from $200 million to $4 billion in net revenue. As Under Armour’s Chief Operating Officer, he was also instrumental in driving operational efficiencies across the company’s global supply chain that included multiple distribution channels.

The big question still remains are Blue Apron’s problems to big for any CEO to fix? Could the stock decline continue for the remaining few days we have left this year with hopes of a turnaround in 2018?

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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