Updated:
Original:

Goldman Sachs Using Its Free Blue Apron Subscription To Order Crow

Even Goldman has to admit that this is a fucking disaster.

As we posited yesterday, Blue Apron's stock "performance" makes one wonder why the company ever wanted to go public and why anyone agreed to underwrite it.

BlueApronBurning

The recipe-in-a-box startup failed to show adequate signs of life in its first quarter and even reported a very nettlesome operations problem. Shares of APRN have fallen as dar as 20% since the results came out yesterday morning and now even Blue Apron's underwriters are admitting that they might have missed something during the IPO journey.

“We were clearly wrong in our estimate of the logistical challenges of this transition and its ability to reaccelerate customer growth and engagement,” Goldman Sachs analyst Heath Terry said in a note to clients Thursday that downgraded his rating on Blue Apron stock to the equivalent of a hold.

Even Jeff Bezos thinks this is getting sad.

Blue Apron Flop Has Goldman Eating Its Words [Bloomberg]

Related

BlueApronBurning

Blue Apron's First Public Quarter Offers Concrete Proof That Blue Apron Should Never Have Gone Public

This isn't a bad company, but taking it public was borderline fraudulent.

dumipofamilytree

Blue Apron IPO Is A Clusterfuck Recipe-in-a-Box.

The cash-hemorrhaging DIY dinner startup is hoping that people will hold its stock longer than they use its product.

BlueApronIPO

Sell-Side Reheats Blue Apron IPO

Goldman and friends have some leftovers for you.

BlueApronIPO

Blue Apron Shocks Market By Going Almost A Whole Month Before Executive Shakeup

For a stock that traded like a lead Zeppelin, this showed restraint.

BezosBlueApron

Jeff Bezos Is Sadistically Curious If He Can Personally Make Blue Apron Stock Worth Negative Dollars

Can Bezos destroy Blue Apron before Zuckerberg can kill Snapchat? Let's play!

BlueApronBurning

As Some Idiot Predicted Months Ago, Blue Apron Is Officially A Penny Stock

If even we could see this coming, how was it allowed to happen?