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…
Read the full article here