Grocery Delivery Stock Downgraded on Stiff Competition

Group 1 - Shares of Maplebear Inc (NASDAQ:CART), operating as Instacart, have declined by 3.2% to $44.07 following a downgrade from Wedbush to "underperform" from "neutral," with a price target reduced to $42 from $55 due to increased competition from Amazon's grocery delivery expansion [1] - The stock has significantly decreased from its record high of $53.50 on August 8, although it is still up 6.6% since the beginning of the year [2] - The $43 level, which served as a support floor in June, remains below the current trading price [2] Group 2 - There is potential for short covering, as short interest, while unwinding, still represents 6.2% of the stock's available float [2] - Options activity indicates bearish sentiment, with put volume at ten times the intraday average, particularly focused on the weekly 8/22 44-strike put [3]