Blue Apron falls over 25% after strategic review concludes with no sale

Blue Apron said this morning in its earnings release, "In light of the recent equity financing, debt refinancing, and continued improvements in the business resulting from both the company's growth initiatives and the positive impact on demand from the COVID-19 pandemic, the Board of Directors has concluded its review of strategic alternatives that was announced earlier this year. The Board of Directors and management will continue to evaluate and look for opportunities in the ordinary course to enhance shareholder value." Shares of Blue Apron are down 26%, or $1.71, to $4.85 in midday trading.