Why Blue Apron’s lackluster debut may be a good thing

Shares of Blue Apron Holdings Inc. opened and closed at $10 Thursday, in line with the company’s issue price, as the stock made its debut on the New York Stock Exchange in a price-sensitive market.

The opening price puts Blue Apron’s APRN, +0.00% public market capitalization at $1.9 billion, below its private valuation of $2 billion. But even as the company took a cut to its valuation, experts say Thursday’s trading suggests a healthy IPO market and the potential for Blue Apron to increase its valuation later on.

The company sold 30 million shares to raise $300 million in the offering.

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