Published On: Fri, Jun 16th, 2017

Other grocery bonds plunge as Amazon buys Whole Foods for $13.7B

Amazon frightened investors divided from competing grocery stores currently when it acquired Whole Foods for $13.7 billion. Wal-Mart, Target, Costco, Kroger, and some-more all saw their share prices penetrate dramatically.

Amazon’s ecommerce empire, worldly trucking placement network, modernized technology, and low pockets could all assistance Whole Foods run circles around a out-of-date rivals.

As of 11:45am eastern, here’s a grave state of a rest of a grocery industry:

  • Amazon: +2.91% to $992.21
  • Wal-Mart: -6.02% to 74.16
  • Target: -9.52% to $51.14
  • Costco: – 5.89% to $169.48
  • Kroger: -12.34% to $21.53
  • Dollar General: -5.17% to $68.58
  • SuperValu: -13.56% to $3.25
  • Sprouts Market: -6.38% to $20.99
  • Smart Final Stores: -14.96% to $9.52
  • Weis Markets: -5.30% to $48.22
  • Ingles Markets: -4.57% to $33.40

After tech octopus Amazon bought a grocery store, we can design a other grocery stores to acquire or deposit in building some-more tech to try to keep up. It seems Amazon has satisfied there’s a outrageous event in owning a staples of a complicated world, from AWS servers that run your favorite apps, to Amazon Prime that delivers all between finished products and streaming movies, and now your internal imagination grocer.

Image Credit: CNBC around Will Oremus

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