Instacart IPO: Why the odds may be against the grocery delivery chain in its public debut

Instacart (CART) is officially on the public market.

On Tuesday, the grocery delivery company went public on the Nasdaq. Instacart stock opened at $42 a share, 40% higher than the anticipated $30 a share, which put the company’s market valuation at roughly $13.9 billion.

As of the market close on Tuesday, shares of Instacart were up 12%, ending the trading session at $33.70.

Cordell Eminent Scholar Jay Ritter comments on the Instacart IPO in this story from Yahoo! Finance.