

Please try another search
Investing.com -- Instacart surged on its stock market debut on Tuesday as investors rushed to buy shares of the online grocery delivery company.
Instacart ( Maplebear Inc.) (NASDAQ:CART) opened at $42 on the Nasdaq in afternoon trading, up more than 40% from its IPO price of $30 a share, but gave up some gains to trade about 23% higher.
The initial surge pushed value of the company to over $14B, well above its $10B IPO valuation.
The online grocery delivery company generates the bulk of its revenue from its core grocery delivery business, but has seen demand for grocery deliveries ease since the pandemic-era boom.
Instacart's data and advertising business, however, has continued to gain momentum, with advertising and other revenues rising 2.8% as a percentage gross transaction value in the second quarter from 2.7% in 1Q and 2.4% a year ago, according to the company's S-1 filing.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.