Cooking kit delivery company Blue Apron traded up 3.5% on the stock market Monday, erasing some of the losses from its first two days as a public company. Shares closed at $9.67, which was still beneath last week’s $10 IPO price.
This is in contrast to a lot of public debuts, where companies are typically in the green for the first day “pop.” It’s the subsequent days or weeks where things can get tougher.
But perhaps a stronger close on Monday was a sign that investors think the market was too tough on Blue Apron. Or perhaps it was just a fluke.
So far, investor reaction has been mixed. On the plus side, Blue Apron popularized a category with enormous market opportunity. Everybody eats, after all.
The five-year-old company also reached nearly $800…