Grocermageddon Goes Global
Well that escalated quickly...
This morning's Amazon acquisition of Whole Foods Market has collapsed share prices of many grocers (in US and around the world), pharmacies and drug distributors, and even REITs...
First things first, 11 of the top 12 biggest losers in the S&P 500 are related to AMZN's move...
It's a bloodbath in US Retailers...
But it's not just US Retailers... European Grocers are crashing too...