Investor interest fades from this year’s biggest Wall Street launch
) were down 5.4% on Tuesday, on track for their third decline out of the stock’s first four sessions as a listed company, as investor interest faded in the biggest initial public offering for the year so far.
Investors were also monitoring grocery delivery service Instacart, another high profile IPO, which was due to start trading on Tuesday. Instacart was recently indicated to open at $39.11, well above $30 IPO price. Initially with a new stock “there is often a lot of data missing, so there is a reasonable expectation that the real number is higher,” Ortex co-founder Peter Hillerberg said in an email.
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