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Benzinga
Benzinga
Business
Evette Mitkov

Maplebear (CART) Shares Fall As Competition Heats Up: What Investors Need To Know

Maplebear Instacart Kroger DoorDash Dash DoorDash Inc Kroger Co
Abstract,Downward,Red,Forex,Chart,On,Blurry,City,Texture.,Crisis,

Shares of Instacart parent Maplebear Inc (NASDAQ: CART) are trading lower on Monday following an announcement that Kroger Co (NYSE: KR) is significantly expanding its delivery partnership with DoorDash Inc (NASDAQ: DASH), a move that threatens Instacart’s market position in grocery delivery.

What Happened: Beginning Oct. 1, nearly 2,700 Kroger locations will become available on DoorDash’s platform, offering customers access to the grocer’s complete product selection with delivery in as fast as one hour. The expansion covers multiple major Kroger banners, such as Mariano’s, Fred Meyer, Ralphs and Harris Teeter.

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