Instacart's Stock Surges on Positive Upgrade, Partnership

Instacarts shares surged after BMO Capital upgraded its rating, citing strong third-quarter results. The company reported a 10.2% revenue increase to $939 million and a 14% rise in orders. Instacart also expanded its partnership with Associated Food Stores and announced a collaboration with OpenAI to simplify grocery shopping. Despite some concerns about future advertising growth, the market views Instacarts recent news positively, with the stock currently trading at $39.75, down 25.2% from its 52-week high.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.