AssetID: 53058953
Headline: UNCAPTIONED: Instacart Surges 40% in Trading Debut
Caption: Instacart Surges 40% in Trading Debut. Instacart opened at $42 share on its first day of trading on Sept. 19, CNN reports. Its IPO was set at $30 a share. That puts Instacart's market valuation at over $11 billion. That valuation is significantly less than the $39 billion the company was worth in 2021 amid the pandemic. As demand restabilized, Instacart's value sank. Competitors such as Amazon and Walmart have also given the company a run for its money. But in an SEC filing on Sept. 11, Instacart said it "recently began generating profit". The first half of the year saw the company rake in a profit of $242 million, CNN reports. During the same time period last year, Instacart posted a $74 million loss. Last year, Instacart added new features to stay competitive, such as offering faster deliveries for an upcharge. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Instacart,surges,40%,trading,debut,stocks,shares,value,interest,billions,dollars,United States,America,pandemic,popularity,market valuation
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