Instacart shares dropped on Wednesday leaving them narrowly above their debut price
"The question investors should ask today: Do you believe order growth will reaccelerate? My view on that is I think that it will improve from flat, but it's not going to be as exciting as Uber," Munster said, adding that his firm owns Uber shares but not Instacart.
Analysts at Needham issued a"hold" rating on Instacart's stock in a Tuesday note. They said they anticipate the company's growth will be"more difficult" over the next three years. "Our expectations for post-pandemic online grocery sales in the US are likely going to be below consensus, and we see structural headwinds against adoption," the analysts wrote.on Wednesday. The stock initially rose 23% to $36.75 but has lost some of those gains.
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