Why Blue Apron's Stock Is Trading Higher Today

Blue Apron Holdings APRN shares are trading higher on Monday, after competitor HelloFresh reported first-quarter sales and EBITDA is above market expectations.

Blue Apron provides meal-kit delivery services and sends weekly boxes of pre-portioned ingredients and offers wines and gifts. HelloFresh is an international publicly traded meal-kit company based in Berlin, Germany.

Also this weekend, President Trump extended his social distancing guidelines to April 30, which would extend the period during which individuals shop from home rather than at their local grocery stores.

Related Link: 4 'Stay-At-Home' Stocks That Are Soaring Thanks To Social Distancing

Blue Apron gained notoriety in 2017 for its historically bad IPO, but the stock has been on fire as Americans start quarantining themselves.

Blue Apron's shares were up 12.7% to $11.94 at time of publication. The stock has a 52-week high of $28.84 and a 52-week low of $2.01.