Amazon meal kits? Trademark filing sends Blue Apron's stock to new lows

By Ecommerce FOXBusiness

A display inside AmazonFresh Pickup, a service launched by Amazon.com Inc and currently open only to employees, is pictured in the Ballard neighborhood of Seattle, Washington, U.S. March 29, 2017. (REUTERS/Jason Redmond)

Amazon.com (AMZN) may be planning a service that rivals Blue Apron (APRN), sending shares of the popular meal kit provider to new lows.

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Amazon registered a trademark for the slogan, “We do the prep. You be the chef,” according to a filing with the U.S. Patent and Trademark Office. The filing from July 6 says the trademark covers “prepared food kits,” signaling that Amazon has its sights on the fast-growing market dominated by Blue Apron.

Blue Apron tumbled 8.4% to $6.74, dropping below its IPO price of $10 a share. The stock fell as low as $6.51, Blue Apron’s worst performance since it made its debut June 29.

Amazon rallied 1.1% to $1,012.95 in recent trading. The e-commerce giant hit an all-time high of $1,017.00 last month.

An Amazon spokesperson didn’t immediately respond to a request for comment.

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News of a possible mail-order meal service from Amazon comes one month after the company agreed to buy upscale grocery chain Whole Foods (WFM) for $13.4 billion. Amazon has sought to expand its food delivery business, AmazonFresh. The company has also introduced grocery pickup locations in Seattle.

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The Times of London was first to report on the trademark filing.

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