MarketWatch First Take: Instacart shares slump to their IPO price as investors have second thoughts

by | Sep 20, 2023 | Stock Market

Shares of Instacart, the online grocery-delivery service, slumped to their initial public offering price on Wednesday, as investors appeared to have second thoughts, in a setback for the newly energized IPO market. In after-hours trading Wednesday, Instacart CART, known formally as Maplebear Inc., fell slightly below its original offering price of $30 a share, closing at $29.85, setting up for a potential roller coaster on Thursday. At that price, retail investors would be able to buy the stock for what some institutions…

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