Instacart eliminates all gains after jumping 43% on its first day on the market.
One day after its shares listed on Nasdaq with a 43% premium to their IPO price of $30, US-based grocery delivery service Instacart nearly completely lost all of its gains.
Shares of Instacart finished roughly 11% lower on Wednesday at $30.10 after having launched at $42 and closing at $33.7 on Tuesday. The shares presumably declined due to worries about Instacart’s future growth.
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