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Benzinga
Benzinga
Business
Henry Khederian

As Amazon Expands Grocery Delivery, Wednesday's Instacart (CART) Plunge Signals Heightened Competitive Fears

CART Instacart Amazon e-commerce Prime
Instacart Toronto,,Canada-,November,14,,2020:,Instacart,Company,Closeup,Sign,Is

Shares of Instacart (NASDAQ:CART) are plummeting Wednesday morning, trading down as investors react to a major competitive move by e-commerce giant Amazon.com Inc (NASDAQ:AMZN). Here’s what investors need to know.

What To Know: The sell-off was triggered by Amazon’s announcement that it is significantly expanding its U.S. grocery delivery service, intensifying the rivalry in the online grocery space.

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