Why AI Robotics Stock Symbotic Jumped 16% This Week After Hitting a 52-Week Low
Opportunistic investors are buying Symbotic stock after its steep fall.
After hitting a 52-week low of $16.32 per share on April 4, Symbotic (NASDAQ: SYM) stock bounced back and hit a weekly intraday high of 16.1% through 10:30 a.m. ET Friday, according to data provided by S&P Global Market Intelligence.
Turns out, investors lapped up the opportunity to buy shares in the artificial intelligence (AI) automation company amid the stock market rout.
Symbotic develops fully autonomous mobile robots controlled by AI-enabled software to automate warehouses, distribution centers, and supply chains.
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