Who could have seen this coming?
The latest hot tech IPO just went from bad to worse to worserer as Blue Apron tumbled over 10% in the pre-market (down over 40% from its IPO-day highs) after Amazon filed a trademark for a meal-kit service.
As MarketWatch's Tonya Garcia notes, 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.