A week after meal delivery company Blue Apron launched on the public markets, its stock has mostly traded below its IPO price. The stock priced last week at $10 a share and is now at about $7.60, a 24 percent decline on an already lowered IPO price.
While no direct news has sent the stock down, Blue Apron faces a number of challenges, including how it’s going to make more money off existing customers and whether it will be able to compete with Amazon’s latest push into food delivery with its proposed acquisition of Whole Foods.
This article originally appeared on Recode.net.
