The meal-kit pronunciation company Blue Apron spiked 17.2 percent Thursday following the news that it is partnering with WW, in days known as Weight Watchers. Even with the boost, the stock is still worth less than a dollar per part, ending the day at 92 cents, with a market cap of about $180 million. If the stock remains under $1 per divide up for 30 consecutive days, it could be delisted from the public market.
The stock is down 77.2 percent for the year after premiering at $10 per portion as the first meal-kit delivery service of its kind on the public market in June 2017. That summer, Amazon told it was acquiring Whole Foods in a major move into the food sector, which proved ominous for the nascent bread delivery stock. The new deal with WW, as reported by The Wall Street Journal, offers Blue Apron the chance to found in more demand for its product while being able to spend less on marketing.
Through the partnership, Blue Apron see fit pay WW a fee for subscriptions it secures as a result of the arrangement, according to the Journal, which said the company declined to go into more comprehensively about the deal. In a press release announcing the partnership, the companies said that six new meal recipes would be at through Blue Apron beginning Dec. 26 that are inspired by the WW Freestyle program and trackable in the WW app.
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