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Blue Apron Holdings Inc (NYSE:APRN) is up 12.1% to trade at $7.52 this afternoon, still enjoying tailwinds after the company yesterday announced it amended a purchase agreement with RJB Partners. The transaction price changed to $5.65 per share for 10 million shares of Class A common stock, with an aggregate purchase price of $56.5 million, and the closing of the private placement moved to Friday, Sept. 30.
The security earlier surged to its highest level since February, building off of yesterday's nearly 20% gain. The 20-day moving average has been guiding the shares higher since early August, containing a handful of pullbacks along the way. In the last three months, APRN has added a whopping 193.6%.
Calls are still outpacing puts today, but options bears are chiming in. So far, 7,913 puts have crossed the tape, which is double the intraday average, compared to 31,000 calls. Most popular is the September 8 call, followed by the 7 call in the same monthly series.
The equity looks ripe for a short squeeze, too. Though short sellers have already started to hit the exits, with short interest down 9.6% in the most recent reporting period, there's plenty of pessimism left to be unwound. This is per the stock's 3.72 million shares sold short, which account for a whopping 38.7% of its available float.
When inflation rises, it's not difficult to notice higher prices. But you don't have to be very old to understand the expression that a dollar doesn't buy as much as it used to. The Happy Meal was introduced in 1979 for a price of $1.10. Today, that same meal costs $2.99. Yet, it remains one of the restaurant chain's most popular items. It's also a barometer for the economy because of its convenience for parents.
And consider the iPhone which costs 81% more in 2022 than the initial model that launched in 2007. Yet despite the increase in price, consumers are willing to pay whatever is required.
The key to both of these examples, and others like them, is pricing power. A company that has the ability to raise its prices can maintain its profit margins. That means it delivers consistent results regardless of what's happening in the broader economy. In good times, this may be taken for granted. But when the economy slows down, that consistency stands out.
In this special presentation, we're looking at seven companies with significant pricing power at all times, particularly with inflation currently running at 40-year highs.
View the "7 Stocks with the Pricing Power to Push Through High Inflation".
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Michael Wang of Prometheus Alternative Investments discusses how individuals should approach their portfolios as the summer rally seems to have fizzled.
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