US investors believe in cooker box mailers in corona crisis

23-Mar-2020 - USA

With a price jump of 150 percent in one day, US investors have rediscovered their faith in the loss-making cooker-box mail order company Blue Apron during the coronavirus crisis. With a closing price of 16.25 dollars on Wednesday evening, the share price landed at just about the same level as in spring 2019, after which losses and strong competition, including from German rival Hello Fresh, caused the price to collapse.

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But this week the Blue Apron stock had just started at a price of 2.25 dollars - which meant that by Wednesday evening it had gained more than 600 percent. Investors are hoping that the restrictions and bottlenecks in trading due to the coronavirus spread will revive Blue Apron's business. Last year, the company's turnover had slumped by almost a third to 455 million dollars. In contrast, Hello Fresh increased its US business alone by around 40 percent to just over one billion euros.

The cooking box mail-order companies, which send out ingredients for selected recipes on a weekly basis, are currently also experiencing increased demand in Germany. As a result, Hello-Fresh customers, for example, now have to finish their orders a little earlier than usual. The competitor Marley Spoon has extended the delivery window by several hours.

The Hello Fresh share, which had already risen continuously over the past few months, has risen from just over EUR 17 to around EUR 23 since the beginning of the week. (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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