Is It Too Late to Buy Symbotic Stock?
Symbotic (NASDAQ: SYM) has had an eye-popping year so far in 2023, riding the tailwinds of a broader rally in technology stocks and the fervor surrounding artificial intelligence (AI). Shares of the AI and warehouse automation specialist are up more than 210% so far this year, far outpacing the gains of the S&P 500. This is in stark contrast to its inaugural six months in 2022, when the stock tumbled more than 40%.
The rally this year has come in the wake of the company's robust financial results over the past two quarters. The growing adoption of Symbotic's warehouse automation solutions and the improvement of its financial results have increased investor confidence that the company is headed in the right direction.
What does this mean for investors who sat out Symbotic's recent blistering rally? Should they buy the stock in the hopes of additional upside or move on to greener pastures? Let's take a look.
Source Fool.com
