Instacart Stock Keeps Sinking Below Its IPO Price. Another Analyst Sees Risks Ahead.

Instacart stock continues to struggle following its recent initial public offering, thanks at least in part to skepticism from Wall Street analysts about the near-term prospects for the company. Instacart (ticker: CART), officially known as Maplebear, priced its initial public offering last month at $30 a share and opened for trading at $42. Adding to the pressure, Gordon Haskett analyst Robert Mollins picked up coverage of Instacart on Monday with a Hold rating and $31 target price.