Instacart Surges 40% , in Trading Debut.<br />Instacart opened at $42 share on its first day of trading on Sept. 19, CNN reports. .<br />Its IPO was set at $30 a share.<br />That puts Instacart's market <br />valuation at over $11 billion.<br />That valuation is <br />significantly less than <br />the $39 billion the <br />company was worth in <br />2021 amid the pandemic.<br />As demand restabilized, Instacart's value sank.<br />Competitors such as Amazon and Walmart have <br />also given the company a run for its money.<br />Competitors such as Amazon and Walmart have <br />also given the company a run for its money.<br />But in an SEC filing on Sept. 11, Instacart said it "recently began generating profit.".<br />The first half of the year saw the company rake in a profit of $242 million, CNN reports. .<br />During the same time period last year, Instacart posted a $74 million loss.<br />Last year, Instacart added new features to stay competitive, such as offering faster deliveries for an upcharge
