Analyst Posits a Blue Apron Acquisition With Stocks Seeing a Surprising Jump
NEW YORK, NY - “A little birdie” is spreading rumors that Blue Apron may be acquired by a grocery chain, and investors have responded by opening up their wallets. Seemingly originating from a single Tweet by hedge fund manager Will Meade, the rumor spurred as much as an 8.5 percent jump in Blue Apron’s stocks.
“A little birdie told me $APRN @blueapron will be acquired by a grocery store chain for $3 or better,” Meade wrote from his account, @realwillmeade.
Motley Fool reported that Meade did not elaborate further on the rumors, and there have yet to have been further reports by other media organizations. However, an acquisition seems to be the ultimate goal for the majority of meal kit companies in the market currently. As we previously reported, rival Plated was acquired by Albertsons in September of last year, and, just last month, meal kit provider HelloFresh scooped up Green Chef. Even Blue Apron has began shifting its business strategy, moving to be distributed through grocery stores for the first time.
The source notes that the general temperature of the market seems to be that people aren’t buying the idea that Blue Apron will actually be bought out any time soon, as stocks would have likely shot up past the $3 mark if the rumor had enough clout. AndNowUKnow will continue to monitor the possible acquisition and share with you the latest.
