At This Point, Amazon Can Crush a Company Just By Filing for a Trademark. Amazon is an unstoppable beast, consuming all industries that are ripe for disruption and unfortunate enough to cross its path. On Monday, its latest victim was the struggling food delivery service Blue Apron. For 2. 0 years, Whole Foods has enjoyed the honor of being on Fortune magazines list of the top 1. Read more Read. Following Amazons bombshell announcement of an agreement to acquire the Whole Foods grocery chain for 1. Kroger, Target, Wal Mart, and Costco, have all recently felt the Amazon effect. But no one has been as hard hit as Blue Apron. The weekly meal kit delivery service went public in June, just days after Amazons surprise acquisition announcement. IPOs take a long time to come together and theres no way Blue Apron could have anticipated the move. It initially forecast its IPO range as 1. In the wake of Amazons announcement, that valuation had to be dropped to 1. It opened and closed its first day of trading with a flat price. But Monday was a day of reckoning. The Street first reported that Amazon Technologies Inc. Knowing which stock to target, traders sent the Blue Apron price tumbling. By 1. 1 1. 9 AM, it was down 9. The ominous figure was 6. After hours trading showed the stock hovering in the same range. Blue Apron was already trying to break into a tough business and in its initial prospectus, it said that it had just enough cash and borrowing capacity for at least one year. ATTENTION ARTISTS sometimes your friends will have successes, and youll be jealous, even if you dont want to be, says author and Dinosaur Comics creator. Taking a 3. 5 percent hit to its stock price isnt going to make anything easier. Amazons price ticked up 1 percent to 1. The online retail giant is a killer when it comes to aging industries like selling books. But it still faces stiff competition from its contemporaries. As recently as December, analysts were signaling that Netflix should be terrified of Amazon Prime. That could still be the case, but Netflix posted huge numbers today. After blowing away new subscriber estimates, the streaming service saw its shares rise by 1. Bezos may have the supply chains and the willingness to reinvest profits, but he doesnt have Orange is the New Black. The Street via Bloomberg.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
November 2017
Categories |