How to buy Instacart (CART) stock in Canada

Here's everything we know so far about the Instacart IPO.

Instacart has gone public. Here's what we know about the IPO and how to buy Instacart stock in Canada.

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What we know about the Instacart IPO

On Tuesday September 19, 2023, grocery delivery service, Instacart, began publicly trading on the Nasdaq Global Market under the ticker symbol "CART."

The opening price per stock was $30, which was on the upper end of the previously announced share price range of $28 - $30. On its first day trading, Instacart stock hit a peak of $42.95 per share, but ended the day at $33.70 per share.

With 22 million stocks up for grabs, the total amount raised from the IPO was around $660 million. Altogether, the company has a market value of $11 billion.

Maplebear Inc. does business under the name, Instacart. It offered 14,100,000 shares of common stock with certain selling stockholders offering an additional 7,900,000 shares of common stock. Maplebear Inc. submitted a S-1/A filing with the US Securities and Exchange Commission (SEC) for its upcoming IPO on the Nasdaq Global Market stock exchange.

We'll update this page as more information becomes available.

Instacart company information

Maplebear Inc, doing business as Instacart, is a San Francisco-based grocery delivery company founded in 2012 by Apoorva Mehta, Max Mullen and Brandon Leonardo.

Instacart offers grocery delivery and pickup services across more than 80,000 stores, in over 14,000 cities. Through its suite of end-to-end solutions, called Instacart Platform, retailers have access to Instacart's e-commerce technology suite, full-stack end-to-end fulfillment technologies, AI-powered carts and contact-free checkout devices, advertising capabilities and business insights. Instacart partners with more than 1,400 national, regional and local retailers in the US and Canada.

According to Instacart, it processed more than 260 million orders in 2022, up 18% year-over-year, generating roughly $29 billion in gross transaction value (GTV), up 16% YoY.

Note: all dollar amounts on this page are in US dollars unless otherwise stated.

How to buy Instacart stock

Before you can invest in Instacart, you'll need to open a brokerage account.

  1. Compare stock trading platforms. Use our comparison table to help you find a platform that fits your needs.
  2. Open your brokerage account. Complete an application with your details.
  3. Confirm your payment details. Fund your account.
  4. Research the stock. Find the stock by name or ticker symbol – CART – and research it before deciding if it's a good investment for you.
  5. Purchase now or later. Buy your desired number of stocks with a market order or use a limit order to delay your purchase until the stock reaches a desired price.

Will I be able to buy Instacart stock in Canada?

You won't be able to buy Instacart stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.

You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Qtrade, Wealthsimple, Scotia iTRADE and CIBC Investor's Edge.

Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy Instacart stock.

See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.

Buy Instacart stocks from these online trading platforms

Compare special offers, low fees and a wide range of investment options among top trading platforms.

Note: The dollar amounts in the table below are in Canadian dollars.

1 - 6 of 6
Name Product CAFST Available Asset Types Account Types Stock Trading Fee Account Fee Offer
Interactive Brokers
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CIBC Investor's Edge
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OFFER
CIBC Investor's Edge
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs
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Get 100 free trades when you open a CIBC Investor’s Edge account using promo code EDGE2425. Plus, get $200 or more cash back. Valid until March 31, 2025.
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Moomoo Financial Canada
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RBC Direct Investing
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RBC Direct Investing
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$0
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Qtrade Direct Investing
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Qtrade Direct Investing
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Tax implications of buying US stocks in Canada

Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.

An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.

Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.

Speak with a tax professional to find out what rules and exceptions apply in your circumstances.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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