With the return of the meme stock mania, internet food retailer Blue Apron Holdings, Inc. (APRN) is up 91.5% over the past month to close its last trading session at $5.65. The stock has a short float of 43.03%. However, as in the case of most meme stocks, the sustainability of such gains is questionable.
In addition, the recent rally in APRN is not backed by fundamentals. For the fiscal second quarter ended June 30, APRN’s net loss increased 24.4% year-over-year to $23.12 million, while its net loss per share came in at $0.68.
