Monday, 17 July 2017

Blue Apron shares tumble after Amazon files for meal-kit trademark

New article from your news rule in Inoreader

Blue Apron shares tumble after Amazon files for meal-kit trademarkBy Angela Moon NEW YORK (Reuters) - Shares of meal-kit service Blue Apron Holdings Inc slumped to new lows on Monday in the wake of Amazon.com Inc 's move to register a trademark for a possible rival service. Blue Apron shares tumbled more than 11 percent to $6.51, a drop of nearly 35 percent since its June 29 initial public offering price of $10. The decline came as investors were concerned about its future and the impact of Amazon's planned $13.7 billion a cquisition of supermarket chain Whole Foods Market Inc amid a fast-expanding meal-kit industry.


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