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In addition, APRN’s shares have declined 21.3% over the past six months and 5.4% over the past nine months. And though the demand for its products and services surged amid the COVID-19 pandemic, it continues to struggle as several restaurants reopen.
According to a Grocery Dive report, the meal kit market’s growth rate will decline from roughly 70% in 2020 to 18.2% this year. Furthermore, APRN faces intense competition from other top players in the industry, such as Germany-based HelloFresh SE. So, APRN’s near-term prospects look uncertain.
