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The stock of grocery-delivery app Instacart, which trades as Maplebear Inc. CART, -4.19%, is down 4.3% Thursday to put it on track for its lowest close since its initial public offering in September, according to Dow Jones Market Data. The stock is well below its IPO issue price of $30, trading last at $24.42.
Instacart is the only stock of four recent initial public offerings that is still languishing below its issue price some two months after its debut.
Instacart said on Wednesday it had partnered with NBCUniversal's Peacock to provide the streaming service at no extra cost to all paying U.S. subscribers of the grocery delivery firm.
Before grabbing your first Instacart shares, you should watch for the company's response to competitive pressures and financial challenges. Instacart faces stiff competition from giants like DoorDash and Walmart, challenging its future market expansion.
Instacart's stock has dropped since its IPO. The biggest news since its IPO is its third-quarter results.
Instacart's growth has slowed since the early pandemic days when everyone favored e-commerce. But the grocery delivery giant still showed its strength by reporting double-digit gains in revenue in the most recent quarter.
As retailers and third-party players alike compete for consumers' online grocery spending, Instacart maintains that its scale protects it from facing too much competition from even larger grocers' in-house fulfillment efforts. As the grocery aggregator's Chief Executive Officer Fidji Simo told analysts Wednesday (Nov.
First their initial public offerings fizzled in the days following their debuts. Now their earnings have disappointed.
Instacart beat revenue estimates, but investors still seemed to want more. Transaction growth is slowing, but advertising growth is making up for it.
Despite giving investors a mild heart attack during the first few days of public trading, shares of Birkenstock Holding plc NYSE: BIRK have been putting in a good shift ever since. In one of the more high-profile IPOs of the year, not least because of how recognizable the brand is, the 250-year-old company went public last month and promptly fell more than 15% from its opening highs.