Amazon Just Took Another Step Toward Destroying Blue Apron

Amazon Just Took Another Step Toward Destroying Blue Apron

Well, that didn't take long.

Just a few days after agreeing to acquire Whole Foods Market (NASDAQ: WFM), Amazon (NASDAQ: AMZN) filed a trademark with the USPTO for a meal-kit delivery service. There are reports that Amazon is already testing the meal kits with AmazonFresh customers.

This is exactly what Blue Apron (NYSE: APRN) and its underwriters feared when Amazon agreed to buy Whole Foods. Shares of the meal-kit delivery service's stock have been punished as news comes out about Amazon's intentions in the market.

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Source: Fool.com