Blue Apron Holdings, Inc. APRN shares are trading lower Wednesday. The stock appears to be pulling back after climbing nearly 27% over the last four sessions. Here's a look at what's going on.
What To Know:
Shares of APRN are down by more than 10% on Wednesday following gains of nearly 27% earlier in the week.
Blue Apron shares continue to draw the interest of retail investors due to the high short interest in APRN and its "meme stock" status. There is significant short interest in APRN with 26.86% of shares being sold short, according to data from Benzinga Pro. Retail investors helped to fuel a recent short-squeeze of Tupperware Brands Corporation TUP shares which appeared to drive broader interest in the "meme stock" sector.
Blue Apron will report its second quarter financial results on Aug. 9 before markets open. The company is expected to report an estimated loss of $3.24 per share and revenue of $109.38 million, according to data from Benzinga Pro.
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APRN Price Action: According to Benzinga Pro, shares of APRN are trading 10.2% lower at $5.72 at the time of publication.
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