Blue Apron Lower In 4 Of 5 Sessions Since IPO

Blue Apron Holdings Inc APRN shares are trading lower by 38 cents (4.9 percent) at $7.68 in Friday's session.

After settling at its opening price of $10.00 on its first day of trading, the stock has traded lower in four of the five following sessions, with the one outlier being a gain of 33 cents on Monday. On that day, it posted its lowest volume day since it began trading. That was the only day it didn't post a new all-time closing low.

In each of the five days following the IPO, it has made a lower high and lower low. After making incremental new lows on Monday and Wednesday, it made a new low by a wide margin on Thursday ($8.78 to $7.95) and Friday ($7.95 to $7.36).

Perhaps the timing of the company's IPO has been a contributing factor to its poor performance, as investors fear Amazon.com, Inc.'s AMZN takeover of Whole Foods WFM could enter the food delivery service and pose as a serious competitor.