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-0.000333166749958288 -0.000333166749958288 0.000166583374979262 0.000166583374979262 0.001232716974846 0.00116608362485424 -0.00049975012493755 -0.00049975012493755
Stock impact report

Arm and Instacart add to losses after lukewarm analyst reports [Globe and Mail, The (Toronto, Canada)]

Maplebear Inc. (CART) 
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/4715924
Arm was last down 1.7% at $51.23. Earlier it dipped as low as $50.35, below the $51 price set in its IPO on Sept. 13. Arm surged on its first day on Wall Street and has fallen every day since then. Grocery delivery app Instacart, formally known as Maplebear, fell 2.1% to $30.02, marginally above the $30 price set in its IPO on Monday. The weak performances of Arm and Instacart's stocks since their market debuts add to doubts about whether a hoped-for revival in IPOs will materialize after a drought of more than 18 months. In a client note, BTIG analyst Jake Fuller gave Instacart a “neutral” rating and warned that the company faces heavy competition from DoorDash and Uber Technologies in the slowly expanding market of grocery delivery. In another note, Susquehanna analysts assigned Arm a “neutral” rating and $48 price target, saying the chip designer “appears to be pushing royalty rates to the limit, while also adding lower margin ‘subsystems' revenue”. That followed a Ber Show less Read more
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