Maplebear Inc., which is doing business as Instacart CART, +33.67%, debuted on Wall Street with a bang Tuesday, as the grocery-delivery app’s stock opened 40% above where its initial public offering priced. The company said late Monday that its IPO of 22 million shares priced at $30 a share, which was at the top of the expected range. The first trade was at $42.00 at 12:49 p.m. Eastern for 2.59 million shares. At that price, the company would be valued at $14.2 billion, based on 338.
Shares of Hanesbrands Inc. HBI, +2.13% were rising 2% after the apparel company disclosed that was considering options for its Champion brand, which could include a sale.Arm Holdings PLC‘s ARM, -4.31% stock fell 4%, extending its declines since its well-received initial public offering last week. Walt Disney Co. DIS, -3.40% shares were slipping more than 3% after the entertainment giant revealed plans to invest almost $60 billion in its parks business in the next decade.
Nio Inc.‘s U.S.-listed shares NIO, -14.02% were dropping 15% after the company announced a proposed $1 billion convertible offering.
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