Blue Apron Falls After Amazon Files for Meal-Kit Trademark
- The share slide is latest sign of investor skepticism
- Blue Apron IPO followed Amazon’s offer for Whole Foods
Blue Apron Sinks on Amazon Competition
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Blue Apron Holdings Inc. dropped as much as 12 percent after Amazon.com Inc. filed a trademark application for prepared food kits, the latest sign that investors are concerned about newly public Blue Apron’s prospects.
Shares of the meal-kit delivery company sank as low as $6.51, a 35 percent drop since its initial public offering. Amazon Technologies Inc., an Amazon subsidiary, filed a July 6 trademark application for “prepared food kits composed of meat, poultry, fish, seafood, fruit and/or vegetables . . . ready for cooking and assembly as a meal.”