Blue Apron Is the IPO Bust of the Decade

Another day, another tumble in Blue Apron shares. They fell as much as 19 percent after the company, reporting earnings for the first time following a June IPO, said it lost customers in the second quarter. The shares are now down more than 40% from the IPO price of $10 -- and that decline doesn’t even include the 34 percent reduction in price that the company orchestrated before the deal was completed. It’s been a while since the U.S. market has seen an IPO sour this much this fast. An examination of all IPOs over $300 million this decade shows that Blue Apron’s performance over the first six weeks ranks dead last.