(Bloomberg) -- Shares of Blue Apron Holdings Inc. extended their breakout rally on Wednesday as investors bet on the meal-kit delivery company getting a boost from the coronavirus-driven turmoil.
The stock is now seven times more valuable than market close on Friday as restaurants are being forced to limit operations and as Americans clear out supermarket shelves and settle in for more social distancing. West Virginia is the latest state demanding that restaurants limit service to carry-out and delivery.
Blue Apron rose as much as 198% Wednesday, its largest intraday jump ever, bringing shares back to levels they haven't seen since February 2019 even as the broader marker declined. U.S. listed shares of German meal-kit provider HelloFresh SE have also risen roughly 20% this week.
Blue Apron did not respond to emailed requests for comment or voicemails.
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