Deals
Blue Apron Rises on Jana Stake in Embattled Meal-Kit Maker
- Sometimes-activist fund owned 2% of Blue Apron as of June 30
- Jana also established new position in organic grocer Sprouts
Why Blue Apron Shares Are Plummeting
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Shares of Blue Apron Holdings Inc. rose after Jana Partners disclosed a position in the embattled meal-kit delivery service.
Jana acquired 2 percent of Blue Apron as of June 30, the sometimes-activist hedge fund said in a regulatory filing Monday. Blue Apron’s shares have fallen almost 50 percent since their debut in June as the New York-based company struggles to persuade investors it can win the hearts of American cooks. It has spent heavily on marketing to educate consumers on the concept and distinguish itself from dozens of competitors.