Blue Apron goes nowhere on its first day of trading

Blue Apron‘s first day of trading is over, and it finished pretty much where it started.

The stock traded up to $US11 after debuting at $US10, and ended the higher by just $US0.01 at $US10.01.

The company went public Thursday under the shadow of the recent Amazon-Whole Foods merger. The e-commerce giant is expected to use the grocery chain to beef up its food delivery service.

Initially, Blue Apron shares were expected to price in the $US15 to $US17 range, but that range was lowered to between $US10 and $US11 on Wednesday morning.

Click here to read more about Blue Apron…

NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.