Instacart to reportedly hike IPO price after Arm’s successful debut

Instacart
CART,

plans to raise the target price for its initial public offering after the successful debut of Arm Holdings
ARM,
+24.69%
on Thursday, the Wall Street Journal reported, citing people familiar with the matter. The report said the grocery delivery service will now seek a range between $28 and $30 per share, up from its previous range of $26 to $28. ARM shares jumped 25% to $63.59, after pricing its IPO at $51.