Amazon poised to shake up the meal kit delivery business

18 July, 2017, 00:38 | Author: Valerie Burke
  • Blue Apron's Stock Is Getting Crushed Amid Reports Of Amazon Meal Kit Trademark

"You be the chef", according to the U.S. Patent and Trademark Office records.

Shares of Blue Apron (APRN - Free Report) fell 9% in morning trading on Monday after news broke that (AMZN - Free Report) has registered a trademark in the USA for a meal-kit business. Now Blue Apron stock has now plunged even below that trimmed IPO Price of $10, crashing as low as $6.51 on Monday.

The news follows the March launch of Martha Stewart's "Martha & Marley Spoon through AmazonFresh", where AmazonFresh customers in New York, San Francisco, Dallas and Philadelphia can purchase a Martha & Marley Spoon meal kit that includes the ingredients for a two-person meal.

The Street earlier reported Amazon's trademark application.

The tagline is, "We do the prep". And while you may be lamenting Blue Apron's current status as a brand new competitor of Amazon, remember: it could happen to absolutely anybody and there's nothing you can do about it.

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Blue Apron shares tumbled more than 11 percent to $6.51, a drop of almost 35 percent since its June 29 initial public offering price of $10.

An Amazon spokesperson didn't immediately respond to a request for comment. It seems like the next logical step for Amazon's grocery ambitions, and this all points to the fact that Blue Apron doesn't own a competitive advantage in an industry with low barriers to entry - not something investors are looking for.

IPO in late June couldn't have come at a worse time. Shares declined to $6.51 which is a 35 percent drop since its initial public offering.

The fall in share price value could have additional implications for the unprofitable meal kit-delivery company. It lost another 10 percent in trading Monday after Amazon's trademark application was announced.



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