I traded in my paid off 2019 car for a 2022 suv. Because of very short supply they are asking for more than msrp on most cars. We spent hours on the deal because it was crowded of people trying to buy. I had to pay about 10% over, but I got a lot in return.
While waiting, the salesman and I had a chance to talk about many things including stocks. He told me about a company he used to work for called Blue Apron. I had heard of the company but did not know the company was publically traded - APRN.
When I looked at the company, I noticed that sales were in decline and they were losing money. They were also diluting shareholders to pay for those losses. This was a bad stock.
HOWEVER, they have been implementing changes including changes to the ownership structure, etc. As a result, the stock has bottomed and is turning around A few days ago, you could have bought shares for $6. They will now cost you $8, a 33% gain in a week.
And while APRN sales are in decline, the projected annual sales are roughly $400M, and the company is currently valued at $194M or about .50x revenue.
Either this stock is a bargain, or momentum traders are buying shares. Assuming the company trades at just 1x sales, this may be a $15 stock (a double?).
I have a token amount at this time.
