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Blue Apron Shares Reach $5 After Mixed Q2 Report

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Blue Apron Holdings Inc (NYSE: APRN) shares are trading lower by 83 cents (14.7 percent) in Thursday's session.

Its first earning report as a public company has been a huge disappointment with an EPS miss 17 cents. Sales did come in above Street estimates by $2.3 million.

See Also: Wall Street Whiffs On Blue Apron's First Quarterly Earnings Report

After a lower open and a flush-out of many longs, Blue Apron continued in that direction before finally finding a bottom just above the psychological support level of $5.00, hitting $5.03. The ensuing rally has found resistance in between its all-time low from Wednesday ($5.51) and its all-time closing low from August 4 ($5.82) as the current high stands at $5.83.

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