Blue Apron Shares Sink After Amazon Files Meal Kit Trademark

Blue Apron Braces for Amazon Intrusion; Shares Indicated 3.7% lower in Pre-Market Trading

Blue Apron Braces for Amazon Intrusion; Shares Indicated 3.7% lower in Pre-Market Trading

The Street earlier reported the trademark application.

It's just the latest Amazon-fueled hit absorbed by the flailing Blue Apron, which took a cleaver to its IPO range in the week before pricing following Amazon's $13.7 billion acquisition of Whole Foods. 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".

The meal-kit delivery service - which was forced to slash its IPO price by a third last month on worries about a threat from Amazon's merger with Whole Foods - saw its shares hit again Monday on news that Amazon is planning to launch its own meal-kit delivery service. "You be the chef".

At the time, that deal was seen as a major rival to Blue Apron, but Amazon's foray into the meal-making business ramps up the competition to another level.

Blue Apron holds the title as the largest meal-kit provider in the USA, followed by German-based HelloFresh.

Shares of the meal-kit delivery company sank as low as $6.51, a 35 percent drop since its initial public offering. Blue Apron's stock closed Friday at $7.36 per share, down almost 10 percent for the week.

Representatives from Amazon and Blue Apron didn't immediately respond to CNBC's request for comment. Amazon Fresh already sells meal kits from partners including Tyson Foods and Martha Stewart, so any newly branded Amazon meal kits won't be the only prepared ingredient boxes available through the service.

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