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Fnord666 [soylentnews.org] writes:

Blue Apron shares dropped sharply Monday morning, accelerating the slide since their debut amid fresh signs of competition from Amazon.

The e-commerce giant has registered a trademark [cnbc.com] in the U.S. for a service described as: "We do the prep. You be the chef," according to a filing previously uncovered by The Sunday Times [thetimes.co.uk], based in the U.K.

Blue Apron shares hit an all-time intraday low of $6.45 a share, according to FactSet, and the stock was last down more than 10 percent.

Blue Apron, a meal-kit delivery service backed by major investors including Fidelity, Bessemer Venture Partners and First Round Capital, has seen shares fall after hitting the public market in late June [cnbc.com]. The stock has shed nearly 30 percent month to date.

[...] "Although it's a neat concept, the dominant players within the space will compete at a level that won't allow Blue Apron to be successful long term," Seaburg told CNBC earlier this month. "It's all about scale, it's all about relevance. You look at Kroger, Whole Foods and Amazon. They can take this section of the market over from a price perspective alone in a very short period of time."

Source: CNBC [cnbc.com]

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