By 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
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
acquisition of supermarket chain Whole Foods Market Inc amid a
fast-expanding meal-kit industry.
In a filing with the U.S. Patent and Trademark Office on July 6,
Amazon registered a trademark application for “prepared food kits
composed of meat, poultry, fish, seafood, fruit and/or
vegetables” that is ready for cooking and assembly as a meal.
Amazon’s planned service is identical to the one offered by Blue
Apron, one of the largest meal-kit delivery services in the
Activity in Blue Apron’s options also leaned toward defensive
bets, with put options that make money if the shares drop below
$5 by the third week of January drawing the most activity on
Amazon and Blue Apron were not immediately available for comment.
The deal between Amazon and Whole Foods announced in June marks
the biggest acquisition for the world’s largest online retailer.
Amazon has not said exactly what it would do with Whole Foods’
stores and other assets, but analysts and investors say the deal
could upend the landscape for grocers, food delivery services and
Last week, the top Democrat in the U.S. House of Representatives’
antitrust subcommittee, David Cicilline, voiced concerns about
Amazon’s plan to buy Whole Foods, pushing for a hearing to look
into the deal’s impact on consumers.
Amazon shares rose nearly 1 percent to $1010.93 on Monday, up 4.4
percent for the month, while Blue Apron shares were off about 30
percent for July. The e-commerce giant hit an all-time of $1,017
(Additional reporting by Saqib Iqbal Ahmed; Editing by Bernadette
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