Investors in Serve Robotics (NASDAQ:SERV) stock are certainly cheering after last week saw semiconductor giant Nvidia (NASDAQ:NVDA) take an interest in the small-cap company. Indeed, shares of SERV stock surged nearly 190% on Friday on news that Nvidia took a stake in the company. Since then, shares have continued to move higher, up more than 25% in afternoon trading.
As we reported last week, Nvidia’s purchase of 62,500 shares of SERV stock at the $4 level as well as a conversion of a promissory note for more than 1 million shares of the company (converted at around $2.42 per share) have Nvidia’s stake in the company currently at around 10%. Thus, speculation around official takeout talks is abounding, with investors looking to clearly pile in ahead of any additional future investments.
The robotics company, which makes zero-emissions robots focused on industries like food delivery, is intriguing on its own. But when Nvidia and other major companies start taking an interest in a company’s products and services, investors take notice.
Today’s move in SERV stock comes alongside increased scrutiny from analysts watching the deal closely. Let’s dive into who’s benefiting most from the surge in this little-known robotics company.
SERV Stock Surges Higher on Nvidia Investment
For context, this data comes courtesy of Yahoo Finance, and outlines the top holders of SERV stock:
- Nvidia takes the cake as the largest institutional investor in Serve Robotics, with a stake in the company worth more than 10%.
- Raymond James Financial Services Advisors comes second on this list, holding over 91,000 shares worth a little under $1 million.
- Raymond James & Associates owns another 13,096 shares for its clients in other funds, amounting to a position of more than $116,000.
- Valley National Advisors owns 2,000 shares valued at a little less than $20,000.
- Other insider transactions, such as a stock award grant from the company’s Chief Financial Officer and a director conversion, has insiders owning around 34.2% of the company’s overall stock.
On the date of publication, Chris MacDonald did not hold (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.
