Why Blue Apron Shares Are Getting Hammered Today

Blue Apron Holdings Inc APRN shares are trading lower by 17.02% to $0.79 Tuesday after the company on Friday announce the receipt of a continued listing standard notice from the NYSE.

The company is not in compliance with the NYSE continued listing standards, which require it to maintain: (i) a minimum average closing price of at least $1.00 per share over a consecutive 30-day trading period; and (ii) an average global market capitalization of at least $50.0 million over a consecutive 30-day trading period and, at the same time, a total stockholders' equity equal to or greater than $50.0 million.

Blue Apron says the company plans to notify the NYSE by January 6, 2023 of its receipt of the notice and that it intends to submit a plan to cure both the global market capitalization listing standard deficiency and the minimum share price listing standard deficiency.

See Also: Why Baidu Stock Is Trading Higher During Tuesday's Session

According to data from Benzinga Pro, APRN has a 52-week high of $9.21 and a 52-week low of $0.61.