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Amazon's (AMZN) massive grocery expansion sent shockwaves through delivery stocks, with Uber (UBER) shares falling 1% after the announcement as the e-commerce giant cranked up competitive pressure on gig-economy platforms.
Amazon announced same-day grocery delivery to over 1,000 cities, expanding to 2,300 locations by year-end, which Wedbush analysts called a "shot heard round the warehouse." The service integrates fresh groceries into Amazon's existing logistics network, allowing Prime members to order milk alongside electronics with free delivery on orders over $25.