Why Serve Robotics Stock Is Skyrocketing Again Today
Serve Robotics (NASDAQ: SERV) stock is seeing explosive gains Wednesday. The company's share price was up 25.1% at 10:30 a.m. ET, according to data from S&P Global Market Intelligence. The stock had been up as much as 39.2% earlier in the day's trading.
After the market closed yesterday, Serve Robotics published its second-quarter results. While there wasn't anything shocking in the company's financial performance for the quarter, it looks like the business is carrying out a healthy increase in activity. Even better, Serve followed up its Q2 report by announcing a major new partnership with Uber and Shake Shack.
Serve Robotics specializes in last-mile-delivery vehicles and was spun off from Uber earlier this year. The company had its initial public offering (IPO) in April and subsequently saw its price soar after it was revealed that Nvidia owned a small stake in the business.
Source Fool.com
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