Blue Apron “The Sinking Ship”

I got a notification on Robinhood that Blue Apron’s earnings were coming up and I immediately bought puts to ride out their 2nd quarter numbers. As expected, their earnings beat expectation…but even those results could not save the stock from sinking.

Over the 2nd quarter of 2020, Blue Apron only added an additional 40,000 new customers. Considering right now would probably be the most successful time for their company…this is just sad. Between restaurants being closed and consumers being tired of eating delivered pizza. Their business model should be flourishing right now, but…