News about blue apron: Why the APRN store is rocking today

<p>The latest news on coronavirus from China has Blue Apron (NYSE: APRN) stock higher on Tuesday.

Source: Roman Tiraspolsky /

More and more bars and restaurants in American cities are closing due to the global pandemic and the desire for more social distancing. In fact, nine governors have currently adopted some form of restriction in their respective states. While most restaurants are still allowed to offer delivery or transportation, the movements will still decrease in the number of people who are currently patronizing the restaurants.

In addition, a growing number of consumers are being urged to work from home due to fears that coronavirus could spread through their workplaces and beyond. In turn, these people are unlikely to go outdoors unless absolutely necessary.

Go into the blue apron. This company was one of the pioneers in the supply of meal equipment. It sends the materials you need to create homemade food directly to your home. The risk of coronavirus contamination is limited to the time the delivery person is actually at your door.

That being said, investors are investing in Blue Apron to make a significant profit in this situation. The shares in the APRN share soared on Tuesday and climbed from less than 4 dollars at the end of yesterday to just over 5 dollars at noon on Tuesday.

And the stock price could go even higher if more states and / or cities close their doors to more restaurants and more people get stuck at home with the time to cook in the evening.

To date, the APRN share has increased by almost 40%.

Nick Clarkson is the web editor at InvestorPlace. At the time of writing, he had no position in any of the above-mentioned securities.