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Symbotic Stock Surges 38.9% in July Amid AI Robotics Boom
Symbotic Stock Surges 38.9% in July Amid AI Robotics Boom
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Symbotic (SYM) shares skyrocketed 38.9% in July, capping a 127.5% gain for the first half of 2024. The AI-powered warehouse automation specialist hit a 52-week high of $64.16 on August 5, fueled by bullish analyst sentiment and a strategic partnership with Walmart.
Multiple firms including Arete, Northland, and Citi upgraded price targets, with Oppenheimer's Colin Rusch making consecutive raises—first to $54 in July, then to $59 in early August. The company's January acquisition of Walmart's ASR business and subsequent 400-site deployment agreement continues driving institutional interest.
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