Instacart's Shares Slide for Second Day, Raising Concerns About Growth Prospects

Instacart shares fell in their second day of trading on Wednesday, continuing a slide that began after its IPO on Tuesday, wiping out almost all its gains from its IPO. The stock started at $42 but closed at $30.10, just above the IPO price. Analysts expressed skepticism about Instacart's growth prospects, noting its unit growth has been flat this year. Instacart's decline follows most other gig economy companies that have debuted on the public markets in recent years, with only Airbnb performing well for investors.