Amazon's new Whole Foods discounts wipe out $10 billion in market value from grocery sellers

Amazon's new Whole Foods discounts wipe out $10 billion in market value from grocery sellers

7 years ago
Anonymous $wKBR2uNMvM

https://www.cnbc.com/2017/08/24/amazons-new-whole-foods-discounts-wipe-out-10-billion-in-market-value-from-grocery-sellers.html

Stocks of major food retailers collapsed Thursday, erasing at least $10 billion in market value, after Amazon said Whole Foods Market will cut prices on many of its best-selling grocery products in just four days.

That's when Jeff Bezos' company is set to close its $13.7 billion acquisition of the high-end food retailer, the largest in Amazon's history.