Amazon continues to make news in the food world, as it recently filed a trademark for a meal-kit delivery service, Reuters reported. In light of this news - along with a successful Prime Day - shares were up 4.4 percent for the month.
The company already owns Amazon Fresh, a grocery delivery service - however, according to Business Insider, it is a pricier investment than purchasing similar items at Wal-Mart. Amazon offers meal kit services under the Tyson banner, which the company began doing in 2016. It also works with the Martha Stewart brand with a meal-kit service available to Amazon Fresh customers, which it launched in 2017.
This news of a new Amazon-based meal kit has hit its main competitor in the meal-kit space, Blue Apron, hard. Its stock price initially dropped when Amazon announced its purchase of Whole Foods - and it took another hit, sinking to $10 per share, on Monday.
There are still several meal-kit delivery services that have yet to be traded on the stock market - however, few have managed to turn a profit.