Amazon has announced that it will acquire Whole Foods Market for $13.7 billion.
-RW
UPDATE
Grocery stocks are crashing following news of Amazon's plan to acquire Whole Foods.
Kroger is down 12.5%
SuperValu is down 13.6%
Sprouts Farmers Market is down 7.5%
Other stocks down:
Target is down 8.4%
Costco is down 6.1%
Wal-Mart Stores is down 5.3%
Note: This is not a business cycle crash. It is a sector-related crash based on the likelihood that Amazon will change the entire structure of the grocery store business.
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─ Note: This is not a business cycle crash. It is a sector-related crash based on the likelihood that Amazon will change the entire structure of the grocery store business. ─
ReplyDeleteWell, I'm excited to see what happens next. I along with everyone else are witnessing a paradigm-shifting process before our very eyes, akin to the demise of the buggy whip industry.
You are excited that a CIA front company is getting into the grocery sector?
ReplyDelete