Blue Apron is having a really bad day


Things are not going so well for Blue Apron this morning after reporting its second-quarter earnings (its first earnings report ever), and the stock is crashing as a result of it.

The company’s stock is down more than 14% on the earnings report, which came in pretty mixed compared to what Wall Street wanted. Blue Apron is looking to pull back on its marketing spend as it tries to get its burn under control, which resulted in a drop in its number of customers. The company was able to squeeze out a small profit in a past life, but since then it began to aggressively spend on marketing as it sought to acquire customers.

The problem quickly became getting those customers to stick around and keep buying meals. This time around, the company was able to improve the health of its customer…

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