... [+]With the coronavirus outbreak having sent consumers into panic-buying mode and made them hunker down at home, the money-losing meal-kit company Blue Apron is suddenly getting plenty of love. Its stock price more than doubled Wednesday, extending a big rally this week even as the broader markets are mired in a sea of red.
Blue Apron shares surged nearly 150% on Wednesday to close at $16.25. On Monday morning when the markets opened, its shares traded at just $2.25. A Facebook post from a customer named Anissa Lindgren offers up one reason for the surge. “Got my box in Seattle yesterday while I was staying home and flattening the curve,”Another sign? Blue Apron posted on its social media accounts Wednesday that it’s seeking “temporary and permanent positions,” no experience necessary, at its two fulfillment centers in
Linden, New Jersey, and Richmond, California. “We know that many of you have had your lives disrupted by COVID-19,” Blue Apron said. The company didn’t immediately respond to questions regarding the direct business impact of the coronavirus.
How long can people afford to pay for it is the bigger question.