Blue Apron Shares Sink After Amazon Files Meal Kit Trademark

Blue Apron Holdings Inc. shares were down 7.7% in Monday premarket trading after Amazon.com Inc. filed a trademark for a meal kit service. The filing has the word mark "We do the prep. You be the chef." And it describes the service as "Prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and vegetables and also including sauces or seasonings, ready for cooking and assembly as a meal." The description also includes "frozen, prepared, and packaged meals," soup and salad ingredients, advertising and "business management for others of retail and online retail stores and supermarkets," customer loyalty programs and other services. Amazon already offers meal kits, such as one from Sequential Brands Group Inc.'s Martha Stewart brand. Blue Apron shares are down 21.2% for the month to date while Amazon shares are up 3.5% for the period. The S&P 500 index is up 1.5% for the month so far.