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0.00184647850171459 0.00158269585861238 -0.0185966763386971 -0.0131891321551042 -0.00738591400685838 -0.0366657873911897 -0.0437905565813769 -0.0445792666842523
Stock impact report

Instacart jumps 14% on strong results as CEO calls grocery competition fears ‘overblown' [CNBC]

Maplebear Inc. (CART) 
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/4715924
Company Research Source: CNBC
CEO Chris Rogers called concerns that rising grocery competition will cut into Instacart's business model “overblown.” Analysts at Bernstein called the report a “solid rebuttal” to competition and artificial intelligence fears. In this article Jakub Porzycki | Nurphoto | Getty Images Instacart 's stock surged more than 14% after the company 's robust results alleviated worries over mounting competitive pressures in the grocery delivery market. During an earnings call with analysts, CEO Chris Rogers , who took the helm last year, called the concerns “overblown” and said the company monitors threats “extremely closely.” “There is definitely a market for us here and we feel good about our points of differentiation,” he said. Instacart is facing an increasingly competitive market as retailers like Amazon and food platforms such as Uber Eats and Doordash aggressively scale in grocery delivery. At the same time, the company is investing in new technology and artificial intell Show less Read more
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