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Bullish on the Instacart IPO? Buy This Retail Stock

TheMotleyFool

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Bullish on the Instacart IPO? Buy This Retail Stock: https://g.foolcdn.com/editorial/images/748241/grocery-supermarket.jpg

The long lull in the IPO market is finally over.

Shares of chipmaker Arm Holdings soared last week in their debut, and grocery maven Instacart (NASDAQ: CART) followed with a warm welcome this week as it went public.

The grocery delivery specialist surged out of the gate, opening up 40% from its $30 IPO price at $42 per share. After peaking with a 43% gain in the session, it steadily declined over but still finished the day up 12.3%, showing ample investor demand for the stock. Instacart closed its opening day at $33.70 per share, giving it a market cap of $11.2 billion.

Source Fool.com

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