Shares of Blue Apron (APRN - Free Report) fell 9% in morning trading on Monday after news broke that Amazon.com (AMZN - Free Report) has registered a trademark in the US for a meal-kit business. Today, Blue Apron stocks hit an intraday low of $6.51 a share, down almost 10 percent. Over the years, it has launched services like AmazonFresh and Pantry.
The Times of London was first to report on the trademark filing.More news: Half of people in US prefer Obamacare over GOP health care proposals
"We live to eat", the tagline for its already-in-circulation line of snack foods called Wickedly Prime.
After The Sunday Times uncovered a new Amazon trademark that signals the company's interest in its own meal-kit service, Blue Apron shares sunk more than 11 percent on Monday.
Representatives from Amazon and Blue Apron didn't immediately respond to CNBC's request for comment.More news: ISP Releasing New Information Related To Delphi Murders
John Mackey, CEO of Whole Foods Market, is a member of The Motley Fool's board of directors. Blue Apron is the largest meal kit provider in the United States, followed by HelloFresh, and this is the second hit the company has taken recently. In the middle of Blue Apron's road show to investors ahead of the IPO, Amazon announced it would make a big bid for Whole Foods, basically stealing Blue Apron's thunder and giving it a massive question mark for its future.
Online grocery shopping still accounts for just about 7% of all grocery orders, although observers expect adoption in the U.S.to increase dramatically: Nielsen expects that share to rise to 20% by 2025. Shares declined to $6.51 which is a 35 percent drop since its initial public offering.
Amazon rallied 1.1% to $1,012.95 in recent trading.More news: Oppn urged Centre to resolve Doklam issue diplomatically: MEA