After the success of chip designer Arm Holding’s debut last week, Instacart priced its IPO at the upper end of the expected range Monday, suggesting robust investor appetite for the shares.
There are a few caveats to consider, however, before proclaiming the IPO market is once again firing on all cylinders. Instacart’s $30 a share pricing values the company at $9.9 billion, much lower than its $39 billion valuation in 2020. Arm’s successful trading debut, jumping 25% on its first day, is also being reassessed. The shares have fallen on days two and three and are not far off where they opened on Thursday.
Try your hand at this morning’s Barron’s Daily crossword puzzle and sudoku games. For all games, including a digital jigsaw based on the week’s cover story, click here. What’s Next: The resurgence of oil prices could fan a fresh wave of consumer-price inflation and become a headache for the Federal Reserve. The Fed has aggressively raised interest rates to bring down inflation but is expected to pause at its meeting this week.
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