Instacart shares plunge 11% on report that FTC is probing company over AI pricing tool

Instacart's shares experienced a significant decline of 11% in after-hours trading on Wednesday. This drop follows reports indicating that the U.S. Federal Trade Commission (FTC) has launched an investigation into the company's pricing methodologies. According to sources cited by Reuters, the FTC has issued a civil investigative demand to Instacart, raising concerns about its pricing practices. Both Instacart and the FTC have yet to respond to inquiries regarding the matter. As the situation unfolds, investors and stakeholders are keenly watching for further developments.