Serve Robotics (NASDAQ:SERV) stock is on the rise Wednesday after the autonomous delivery robots company announced a new collaboration with Shake Shack (NYSE:SHAK).
With this agreement, Serve Robotics’ autonomous delivery robots will be used to deliver food from Shake Shack to customers. Also included in this partnership is Uber (NYSE:UBER), which will handle the orders through its Uber Eats platform.
It’s worth highlighting that this delivery partnership is only available for residents ordering from Shake Shack locations in Los Angeles. This builds on the autonomous delivery services that Serve Robotics has offered in the city since 2022.
Touraj Parang, President and Chief Operating Officer of Serve Robotics, said the following about the partnership:
“Today’s announcement highlights the value of Serve’s world-class strategic partnerships as we work to expand our geographic footprint and deploy 2,000 robots across the U.S. in 2025.”
How This Affects SERV Stock Today
News of this partnership is shedding extra light on SERV stock and that brings with it heavy trading. This has more than 32 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is about 15.8 million shares.
SERV stock is up 19.8% as of Wednesday afternoon.
There are plenty of other stock market stories traders need to know about today!
We have all of the hottest stock market news investors need to know about on Wednesday! A few examples include what’s going on with shares of Flutter Entertainment (NYSE:FLUT), Edible Garden (NASDAQ:EDBL) and Conduit Pharmaceuticals (NASDAQ:CDT) stock. You can read up on all of these matters at the links below!
More Stock Market News for Wednesday
- Why Is Flutter Entertainment (FLUT) Stock Up 8% Today?
- Why Is Edible Garden (EDBL) Stock Up 10% Today?
- Why Is Conduit Pharmaceuticals (CDT) Stock Up 12% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
