Maplebear Inc. (NASDAQ:CART) shares are trading lower Thursday following reports suggesting the Federal Trade Commission (FTC) is probing the company’s AI pricing tool.
- Maplebear shares are experiencing downward pressure. Why is CART stock trading lower?
What To Know: Reuters reported Thursday that the U.S. Federal Trade Commission has sent Maplebear, which operates Instacart, a civil investigative demand related to its AI-driven pricing tool known as Eversight.
According to sources familiar with the matter, the FTC is seeking information about how the Eversight software is used by retailers to test different prices. The tool has drawn criticism following a recent study that found shoppers were shown different prices for the same grocery items on Instacart.
The FTC said it does not comment on potential or ongoing investigations but stated it was “disturbed” by reports about Instacart’s alleged pricing practices. The agency noted that the opening of a probe does not prove wrongdoing and that not all investigations lead to lawsuits.
Instacart said last week that pricing tests conducted through Eversight are randomized and not based on individual user data or behavior. The company also said it has been working with retailers to encourage price parity between in-store and online pricing.
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CART Price Action: At the time of writing, Maplebear shares are trading 0.33% lower at $45.50, according to data from Benzinga Pro.
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