GreenSky Accepted an Acquisition Offer and Blue Apron Announced a New Share Plan
GreenSky is a technology company that specializes in the fintech business for promotional financing and health care plans. They are in Atlanta, Georgia, and they have a market cap of $2.19 billion.
On Wednesday, GreenSky accepted an acquisition offer from banking giant Goldman Sachs. The deal is reported to be valued at $2.24 billion for about $12.11 per share. Goldman did this to add to its Marcus consumer-banking platform, which needed a payment plan company like GreenSky. Goldman expects this business to thrive in its new environment, and GreenSky investors reaped their benefits as the stock closed at $11.90, up 53.15%.
Blue Apron is an internet retail company that sells ingredients and recipes to consumers through their platform. They are in Downtown New York, and they have a market cap of $132.402 million. Blue Apron was one of the stocks that saw a massive jump during the COVID-19 pandemic but has deflated since.
On Wednesday, Blue Apron disclosed plans to raise capital through $78 million in fundraising, while also eliminating shares. Usually, when a company does this, investors don’t really like it as it decreases the earnings per share and brings negative sentiment. However, Blue Apron needs cash, so investors liked this move a lot. At the end of the day, Blue Apron closed at $5.61, up 44.59%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.