Instacart shares sink as FTC probes co's AI tool over price disparities

Shares of online grocery delivery platform Instacart CART.O plunge 6.6% to $42.62 in premarket trading

The U.S. Federal Trade Commission(FTC) is probing CART's AI pricing tool Eversight, two sources familiar with the matter told Reuters on Wednesday

Eversight faced criticism after a study found shoppers were charged varying prices for the same groceries

A study involving 437 shoppers viewing Instacart prices in four cities saw wildly different prices for the same items sourced at the same stores - according to the study conducted by nonprofit groups

17 of 34 brokerages rate the stock "buy" or higher, 16 "hold" and one "sell" or lower; their median PT is $50 - as per data compiled by LSEG

Up to last day's close, stock up 10.21% YTD