Movers & Shakers

Instacart shares soar on Nasdaq debut and more stocks on the move

Block’s stock falls after management shakeup, while Starbucks shares decline after an downgrade

Nio plans a convertible-bond offering.

Nio Inc.

Here are some of the most notable movers on Tuesday:

Stock gainers:

Maplebear Inc., which is doing business as Instacart CART, -1.56%, ?debuted on Wall Street with a bang Tuesday, as the grocery-delivery app’s stock opened 40% above where its initial public offering priced. The company said late Monday that its IPO of 22 million shares?priced at $30 a share, which was at the top of the expected range. The first trade was at $42.00 at 12:49 p.m. Eastern for 2.59 million shares. At that price, the company would be valued at $14.2 billion, based on 338.8 million as-converted, fully diluted shares outstanding after the IPO.

Avinger Inc. shares AVGR, +7.14% were rallying another 39% after surging 47% on Monday, following the launch of an image-guided catheter-based system for the diagnosis and treatment of vascular disease.

Shares of Hanesbrands Inc. HBI, -2.08% were rising 2% after the apparel company disclosed that was considering options for its Champion brand, which could include a sale.

Stock decliners:

Arm Holdings PLC‘蝉 ARM, -1.32% stock fell 4%, extending its declines since its well-received initial public offering last week.

Starbucks Corp. shares SBUX, -1.81% were moving about 2% lower following a downgrade at TD Cowen that focused on China risks.

Walt Disney Co. DIS, -2.61% shares were slipping more than 3% after the entertainment giant revealed plans to invest almost $60 billion in its parks business in the next decade.

Block Inc. shares SQ, -2.99% were falling 3% after the company announced the planned departure of Alyssa Henry, who’s been leading the company’s Square merchant business.

Nio Inc.‘蝉 U.S.-listed shares NIO, -2.05% were dropping 15% after the company announced a proposed $1 billion convertible offering.

Shares of Rocket Labs USA Inc. RKLB, -5.01% were falling more than 7% after the spacecraft and rocket builder’s latest flight launch resulted in failure.

UpHealth Inc.’s stock UPH, -18.35% was declining 18% after the digital health company said that its UpHealth Holdings subsidiary has declared for bankruptcy.