Why Is Blue Apron (Aprn) Stock Down? Amazon Documents Meal-Kits Trademark

Blue Apron shares dropped sharply on Monday morning, accelerating their downward slide amid fresh signs of competition from Amazon.
The unicorn start-up was valued around $2 billion in the private market, according to CB Insights estimates.
“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.
Amazon has registered a trademark in the U.S. for a service described as: “We do the prep.
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.

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