Blue Apron shares slide after company is named in list of possible 2019 bankruptcies

Shares of meal-kit maker Blue Apron Inc. fell more than 13% Thursday, after the company was named in a list of 10 potential bankruptcies in 2019. Investing and financial news site Investor Place acknowledged that the company is not one often named as a potential bankrupt, but after going public at $10 and falling to under $1 in less than 18 months, "there's clearly an issue". The company posted heavy losses in its most recent quarter and said it would lay off 4% of its workforce. Earlier this week, it said it expected to be profitable in the first quarter and for fiscal 2019--but only on the basis of an adjusted non-standard metric, and not because of actual profit, as MarketWatch reported. "There's too much competition and too low of margins to imagine APRN surviving on its own over the long term," said Investor Place. Shares have fallen 59% in the last 12 months, while the S&P 500 has fallen 6%.

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