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The app-based food delivery service once tantalized investors with fast-paced growth and leadership in an emerging market. No more.
Blue Apron shares have crashed 70% since the company went public at the end of June.
The number of Blue Apron customers declined in the third quarter as the company spent less on marketing.
On Wednesday, Blue Apron laid off 6% of its total workforce, the company announced in a filing.
Short sellers are cranking up bets against Blue Apron's stock, even though it's already trading at roughly half of its IPO price.
Blue Apron has struggled since its disappointing IPO in June.
Blue Apron's stock price is getting a boost after Jana Partners disclosed a sizable stake in the company. Jana is known for its activist investing tactics.
The meal delivery company brought in more revenue than expected, but other metrics — and a falling stock price — leave analysts unconvinced.
Just three weeks removed from pulling its first attempt at an IPO, YogaWorks is trying again, but at two-thirds of the potential valuation previously sought.
The stock has been crushed since it started trading in June.