Instacart's stock falls below the IPO price. Here are 7 reasons why.

Tue, 09/26/2023 - 12:18

Instacart's CEO Fidji Simo and executive chairman Apoorva Mehta, seated side by side in front of trees — Fidji Simo (left) took over as CEO of Instacart in August 2021 from cofounder Apoorva Mehta (right).
Instacart

Instacart shares recently fell below its $30 IPO price.
Finance professor Aswath Damodaran posted a harsh analysis of the company's core business.
CEO Fidji Simo built an impressive ads business, but the main grocery delivery operation is tough.

To have a healthy digital advertising business, you actually have to have something else substantial sitting behind it, luring customers to visit your site and hopefully spend money.