Instacart CART, plans to raise the target price for its initial public offering after the successful debut of Arm Holdings ARM, +24.69% on Thursday, the Wall Street Journal reported, citing people familiar with the matter. The report said the grocery delivery service will now seek a range between $28 and $30 per share, up from its previous range of $26 to $28. ARM shares jumped 25% to $63.59, after pricing its IPO at $51.
This article was originally published by Marketwatch.com. Read the original article here.
