CNBC’s Jim Cramer gave investors his take on Instacart’s IPO, saying he sees a bull and bear case for the stock.
as investors locked in their initial gains. At Tuesday's close, the company is worth just over $11 billion.
Instacart is the first notable venture-backed company in the U.S. to go public since December of 2021."So, is Instacart worth buying up here in light of those numbers?" Cramer asked."I've got to tell you, I'm kind of torn," he continued, adding that there's a clear bull and bear thesis for the stock.
On one hand, he said the brand has a"popular concept" and has pivoted towards profitability over the past year, with net income of $242 million in the first half of the year, according to the company's second quarterBut Instacart's turn toward profitability means its growth has slowed, Cramer added.
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