Serve Robotics Stock Is Soaring Again: What's Going On?
Serve Robotics Inc (NASDAQ:SERV) shares are trading higher Monday. The stock appears to be moving on continued momentum after Nvidia Corp (NASDAQ:NVDA) disclosed a stake in the company last week.
What Happened: Serve Robotics shares soared 187% on Friday after Nvidia revealed a 10% stake in the robotics company in a filing with the U.S. Securities and Exchange Commission last week.
In a filing released late Thursday, Nvidia said it now owns 3,727,033 shares of Serve Robotics after it converted a promissory note from Serve Robotics into 1,050,129 shares of common stock in April.
Serve Robotics went public via reverse merger with Patricia Acquisition Corp. According to TechCrunch, Serve Robotics was initially started as the robotics division of Postmates. The autonomous sidewalk robots started delivering to Postmates customers in 2018, but when Uber acquired Postmates in 2020, the robotics division was spun out as Serve Robotics.
It’s worth noting that Serve Robotics appears to be getting a lot of attention from retail traders on Monday. It was trending across various social sites at the time of publication.
How To Buy SERV Stock
By now you're likely curious about how to participate in the market for Serve Robotics – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
SERV Price Action: Serve Robotics shares were up 47.8% at $11.16 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Serve Robotics.
