3 Things You Must Know Before Buying Symbotic Stock
Symbotic (NASDAQ: SYM) attracted a lot of attention when it went public by merging with a special purpose acquisition company (SPAC) on June 8, 2022. The warehouse automation company's shares started trading at $10.54, rallied over the following year, and closed at a record high of $63.54 on July 31, 2023.
The bull case for Symbotic was easy to understand. Its autonomous robots processed pallets and cases more efficiently than human workers, and it claimed that a $50 million investment in just one of its modules (which bundle together its robots and software) could generate $250 million in lifetime savings over 25 years.
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Source Fool.com
