Blue Apron Holdings Inc. (APRN) stock soared on Wednesday, But Why?

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FRLN Stock
FRLN Stock

Blue Apron Holdings Inc. (APRN) shares rose 4.96% in after-hours on Wednesday, December 15, 2021, and closed at $8.25. Even in the regular trading session, APRN’s stock gained 0.77%. APRN shares have risen 23.58% over the last 12 months, and they have moved down 31.05% in the past week. Over the past three months, the stock has gained 55.64%, while over the past six months, it has soared 84.94%.

Let’s have a brief look at its recent news and developments.


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APRN New Co-Branded Credit Card with Aspiration

On December 15, 2021, Blue Apron (APRN) announced plans for a Blue Apron Aspiration Zero Card, a co-branded credit card created in collaboration with Aspiration, which offers its cardholders rewards to help fight the climate crisis.

Customers will be able to offset a part of their carbon footprint by using the Blue Apron Aspiration Zero Card. With every qualifying purchase made on a Blue Apron Aspiration Zero Card, Aspiration will plant a tree.

APRN on Amazon Alexa

On December 02, 2021, Blue Apron (APRN) announced that its recipes are now available with Amazon Alexa, allowing for easier home cooking and more culinary exploration. Customers can prepare their Blue Apron Two-Serving and Four-Serving recipes with hands-free instructions on Alexa-enabled devices. Blue Apron plans to double the number of its partnerships in 2022 while continuing to invest in current brand and acquisition partners like Amazon.

APRN latest financial results

On November 09, 2021, Blue Apron Holdings, Inc. (APRN) announced financial results for the quarter that ended September 30, 2021.

Q3 2021 financial highlights

  • APRN reported total revenue of $109.7 million in Q3 2021 compared to $112.25 million in Q3 2020.
  • The total cost of revenue was $73.4 million in Q3 2021 compared to $74.5 million in Q3 2020.
  • Total operating expenses were $129 million in Q3 2021 compared to $126 million in Q3 2020.
  • It suffered a net loss of $27.6 million, and diluted loss per share was $1.17, in the third quarter of 2021 compared to a net loss of $15.3 million, and diluted loss per share of $0.96, in the third quarter of 2020.
  • Adjusted EBITDA was negative $11.7 million in the third quarter of 2021, compared to Adjusted EBITDA loss of $4.7 million in the third quarter of 2020.
  • The company ended the quarter with cash and cash equivalents of $35.3 million.

Conclusion

The Blue Apron holding stock surged after its new credit card announcement which is unique as well. we can expect it to further climb in the coming trading sessions.

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