Instacart loses IPO gains during second trading day

On just its second day listed on the NASDAQ, online grocery service Instacart lost almost all of the gains it had made on its initial public offering.

Instacart’s stock reportedly fell approximately 11% during its second trading day Wednesday.

During its debut, Instacart reached a peak of $42 per share.

However, this dipped to $30.10 by Wednesday afternoon, just $0.10 higher than its IPO price.