Here are some of the most notable movers on Tuesday:
Stock gainers:
Maplebear Inc., which is doing business as Instacart
CART,
debuted on Wall Street with a bang Tuesday, as the grocery-delivery app’s stock opened 40% above where its initial public offering priced. The company said late Monday that its IPO of 22 million shares priced at $30 a share, which was at the top of the expected range. The first trade was at $42.00 at 12:49 p.m. Eastern for 2.59 million shares. At that price, the company would be valued at $14.2 billion, based on 338.8 million as-converted, fully diluted shares outstanding after the IPO.
Avinger Inc. shares
AVGR,
were rallying another 39% after surging 47% on Monday, following the launch of an image-guided catheter-based system for the diagnosis and treatment of vascular disease.
Shares of Hanesbrands Inc.
HBI,
were rising 2% after the apparel company disclosed that was considering options for its Champion brand, which could include a sale.
Stock decliners:
Arm Holdings PLC‘s
ARM,
stock fell 4%, extending its declines since its well-received initial public offering last week.
Starbucks Corp. shares
SBUX,
were moving about 2% lower following a downgrade at TD Cowen that focused on China risks.
Walt Disney Co.
DIS,
shares were slipping more than 3% after the entertainment giant revealed plans to invest almost $60 billion in its parks business in the next decade.
Block Inc. shares
SQ,
were falling 3% after the company announced the planned departure of Alyssa Henry, who’s been leading the company’s Square merchant business.
Nio Inc.‘s U.S.-listed shares
NIO,
were dropping 15% after the company announced a proposed $1 billion convertible offering.
Shares of Rocket Labs USA Inc.
RKLB,
were falling more than 7% after the spacecraft and rocket builder’s latest flight launch resulted in failure.
UpHealth Inc.’s stock
UPH,
was declining 18% after the digital health company said that its UpHealth Holdings subsidiary has declared for bankruptcy.
Read the full article here
