Business
business
Millie Giles

Instacart falls as Amazon announces ultrafast delivery testing in major US cities

Shares of Instacart were down as much as 4% in early trading on Tuesday after e-commerce giant Amazon outlined plans to test ultrafast delivery offerings in parts of Seattle, Washington, and Philadelphia, Pennsylvania.

On Monday, Amazon released a statement announcing that deliveries of “household essentials and fresh grocery items” in approximately 30 minutes or less are now available in certain areas.

The ultrafast offerings come as part of Amazon Now, the company’s same-day grocery delivery service, which has been looking to expand since moving into selling perishable goods like eggs, milk, and fresh produce earlier this year.

While Instacart had a stronghold on rapid grocery delivery for years — following a solid debut on the Nasdaq back in 2023, the stock has risen gradually on some better-than-expected results — analysts have been wary that its retail offerings won’t be able to match Amazon’s incredible reach.

Amazon’s ultrafast service will build on its Prime model, with the statement detailing that Prime members will get discounted delivery fees, starting at $3.99 per order — compared with $13.99 for non-Prime customers.

Far from the first, and certainly not the last, it seems that Instacart might have just gotten “Amazoned.”

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Max Knoblauch

Lucid climbs after Uber revealed to be its second-largest shareholder following recent investment

Shares of luxury EV maker Lucid are up more than 7% in premarket trading on Tuesday, following the release of a regulatory filing that revealed Uber is now its second-largest shareholder, trailing only Saudi Arabia’s PIF sovereign wealth fund.

The news follows an announcement earlier this month that Uber and Lucid would expand their robotaxi partnership from 20,000 planned vehicles to 35,000. Along with the expansion, Uber also said it would invest an additional $200 million into the EV maker.

Per Monday afternoon’s filing, it seems that investment pushed Uber’s ownership stake in Lucid to 11.52%.

Lucid’s stock is down 29% in April. It hit an all-time low of $6.75 on Monday ahead of the regulatory filing becoming public.

In a mark of just how painful the slide has been for Lucid shareholders, as of Monday, the company’s market cap had dropped to a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

4/20/26

BILLIONS IN BILLING

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Capsule Pill and Dots

Justice Department accuses telehealth Zealthy of fraud, says remedy may bankrupt it

The feds say they don’t think Zealthy has the liquidity to pay what it owes customers.

J. Edward Moreno4/14/26
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Americans aren’t drinking as much Mexican beer — that’s not been good for Constellation

The nation’s largest beer importer by sales just saw a 10-year growth streak come to an abrupt end.

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