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.

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