Instacart's IPO Is Finally Here. Is It a Good Buy?
Instacart (NASDAQ: CART), the grocery delivery company formally known as Maplebear, finally went public this month. There were originally talks of the company going public back in 2021 when its valuation looked like it might fetch around $40 billion, but that didn't pan out.
Since then, its valuation has fizzled, and its market cap sits at around $8 billion as of this writing. Is this grocery delivery stock a good buy now that it's at a lower price tag, or should investors avoid this fresh IPO?
What makes Instacart appealing is that it has a broad reach into the U.S. grocery industry. It has partnered with over 1,400 retail banners, which gives it a presence in more than 80,000 stores across the country, representing 85% of the industry. With such a strong presence, the company is in a great position to grow its sales, something it has continued to do.
Source Fool.com
