Weight Watchers Wants to Eat Blue Apron's Lunch
Even the speculative whiff of a buyout isn't enough to get Blue Apron (NYSE: APRN) going these days. The meal-kit provider was one of last week's biggest losers, plunging nearly 15%. The stock took its latest hit despite news that supermarket behemoth Albertsons was acquiring smaller Blue Apron rival Plated, something that more often than not would spark buzz for potential suitors lining up to snag the niche leader.
One big thing holding Blue Apron back from participating in the Plated purchase as a sympathy play is that Weight Watchers (NYSE: WTW) filed a patent application for a delivery service features "smart portions" of fresh food last week. Investors were already concerned that the players already present in this niche are fighting for scraps, and now we're seeing the potential entry of Weight Watchers.
Image source: Blue Apron.
Source: Fool.com
