Why AI Automation Stock Symbotic Zoomed 330% in 2023
Symbotic (NASDAQ: SYM) stock absolutely crushed the market in 2023, zooming 329.9% higher according to data provided by S&P Global Market Intelligence. Here's what that number means: If you'd bought Symbotic shares worth $10,000 on the first trading day of 2023, you'd have nearly $42,300 by the time the stock market closed on Dec. 31.
Listed in June 2022, Symbotic grew leaps and bounds last year. With a big contract in place as it enters the new year, there could be no stopping this artificial intelligence (AI) automation stock.
When Symbotic released its fiscal first-quarter numbers in January 2023 (Symbotic's financial year ends on Sept. 30), it expected to double its second-quarter revenue to up to $230 million. The company surpassed its own estimates and grew its revenue by 177% in Q2.
Source Fool.com
