Instacart shares rose 12% on the first day of trading on NASDAQ after the IPO – Kommersant

Following the results of the first day of trading on NASDAQ, shares of the American grocery delivery service Instacart got up in price by 12.3%, increasing the company’s total capitalization to $11 billion. Just last week, the company, based in San Francisco, published price range for the initial public offering of its shares (IPO) – then investors valued it at $8.6–9.3 billion – the first trading took place yesterday evening.

Analysts and investors have been closely watching Instacart’s offering, which, along with others The major IPO of British microprocessor developer Arm may be an indication of the current state of the US IPO market. As a result, Arm’s placement became the largest in the world this year, and on the first day of trading, shares of the British company jumped up in price by 25%.

Since the beginning of the year, only 71 IPOs have taken place in the United States, which is the lowest figure since 2009. However, the successful September offerings of Instacart and Arm give analysts hope that the IPO market will soon recover. In an interview with the Associated Press, the head of the investment platform Linqto, Joe Endoso, noted that successful placements in recent days, including Instacart, could attract other companies to the market. “There is optimism in global financial markets regarding the potential rise of the IPO market,” the expert noted.

Evgeny Khvostik