Amazon's transformation of Whole Foods puts the entire grocery industry on notice

Business Insider CEO Henry Blodget discusses the aftermath of the Amazon-Whole Foods deal, highlighting the price cuts made at Whole Foods stores. He notes that the stocks of competing grocers have taken a beating, selling off any time there was a new announcement from Amazon. He mentions comments from a Morgan Stanley analyst, who thinks the new Whole Foods has the ability to close the pricing gap between it and its competitors. Blodget then points out that Amazon shows that a company doesn't necessarily need to maximize profits to see share gains.