Maplebear Plummets 2.18% on Wedbush Downgrade as Amazon's Shadow Overshadows $240M Volume Rank 363rd

Maplebear (CART) fell 2.18% to $44.07 on August 21, with a trading volume of $240 million, ranking 363rd in market activity. The decline followed a downgrade from Wedbush to "Underperform" from "Neutral," with the firm slashing its price target to $42 from $55. Analysts attributed the move to Amazon's expansion of same-day perishable grocery delivery, which intensifies competition in the sector.

Wedbush highlighted that Instacart's market share has declined to 58% in 2024 from 70% two years prior, as major retail partners increasingly direct online grocery demand to their own platforms. The firm expressed caution over management's ability to meet long-term targets amid rising competitive pressures. It revised GTV growth forecasts downward to 7.1% for 2026 and reduced adjusted EBITDA estimates by 3%, citing potential increases in customer acquisition costs.

Short interest remains at 6.2% of the float, with put options trading at 10 times the intraday average. The $44-strike put for August 22 is the most actively traded. While the stock has retreated from its August 8 record high of $53.50, the $43 support level from June remains intact. Analysts noted that Wedbush's bearish stance contrasts with broader market sentiment, as 18 of 34 analysts still hold "Strong Buy" or "Buy" ratings.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to present yielded a compound annual growth rate of 6.98%. However, the approach experienced a maximum drawdown of 15.59%, with a significant decline in mid-2023 underscoring the risks associated with high-volume trading strategies.