Why AI Robotics Stock Symbotic Jumped 14% This Week

Symbotic (NASDAQ: SYM) stock surged by double-digit percentages for the second straight week, jumping 14.2% this week at its highest point in trading through 2 p.m. ET Friday, according to data provided by S&P Global Market Intelligence. Thanks to a stupendous week, Symbotic stock is up more than 35% this year, as of this writing.Symbotic builds and deploys automation systems for warehouses, distribution centers, and supply chains. Its fully autonomous, artificial intelligence (AI)-enabled robots are already deployed in the warehouses of some of the world's largest retailers, including leader Walmart. And, you may thank Walmart for Symbotic stock's rally this week.Symbotic is extending its long-standing partnership with Walmart. It will acquire Walmart's advanced systems and robotics business for $200 million in cash, with additional contingent payments of up to $350 million.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool