Maplebear Inc., which operates as the better-known Instacart (CART), is expected to start trading September 19, 2023 at a ~$8.1 billion valuation. At $29/share, the midpoint of its IPO price range, Instacart earns an unattractive Stock Rating and is this week’s Danger Zone pick.
While the latest valuation is certainly lower than the COVID-19 mania-induced ~$39 billion valuation it garnered in 2021, the expectations baked into the midpoint IPO price range remain overly optimistic.
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