Blue Apron’s stock nears NYSE danger level

Shares of Blue Apron are nearing $1, near levels that may eventually result in its delisting.

The cook-your-own meal apparel firm said that 30 percent dropped from this time this past year. Orders fell 29% in the first quarter, compared with 2018.

The New York firm has cut its spending on advertising as it changes its strategy to concentrate on clients that invest more and might stick with the meal . That has contributed to user numbers.

In case the stock remains there for 30 consecutive days and slips under $1, it will be threatened with a delisting under NYSE rules.

Stocks of Blue Apron Holdings Inc. are trading for about $ 1.02 Wednesday.