Instacart (NASDAQ:CART) stock closed the day up 12% at US$33.70 after making its debut on the Nasdaq — above its IPO price of $30 but a far cry from its opening price of $42.
After the initial swell prior to opening, investors engaged in a bit of profit taking on shares of the grocery delivery company. Instacart (NASDAQ:CART) raised its IPO price to $30 a share on Monday, which valued the company at about $10 billion.
Meanwhile, Microsoft Corporation (NASDAQ:MSFT) accidentally published non-public information when providing documents to the court as part of its case brought against the company by the Federal Trade Commission.
In a court order Tuesday, Judge Jacqueline Scott Corley said that Microsoft seemingly inadvertently provided the court with a version of documents that "contained non-public information" to the link designated for public documents in the trial. The documents have since been removed.
The offending documents include a slide on “the next generation of gaming at Microsoft,” including plans for a new cloud hybrid Xbox console with a release targeted for 2028.
Elsewhere, the Biden administration has nixed plans to send government officials to Detroit this week in an effort to help facilitate a deal between the United Auto Workers (UAW) union and the big three automakers.
The administration previously said it would send acting Labor Secretary Julie Su and White House senior advisor Gene Sperling. Instead, the plan is to meet virtually on Zoom, according to reports.