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Serve Robotics Inc. (NASDAQ:SERV) shares are trading higher Friday after NVIDIA Corp (NASDAQ:NVDA) disclosed a 10% stake in the company.
The Details:
According to SEC filings, Nvidia increased its stake in Serve Robotics by approximately 1 million shares on April 22, 2024. The purchase brought Nvidia's total holdings in Serve to about 3.7 million shares or a 10% stake in the company.
Serve Robotics has developed an advanced, AI-robotics mobility platform, with last-mile delivery in cities as its first application.Serve's first product is a zero-emission robot that serves people in public areas, starting with food delivery.
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Backed by Uber Technologies Inc. (NYSE:UBER) and Nvidia, Serve became an independent company in 2021 with scalable multi-year contracts, including a signed agreement to deploy delivery robots on the Uber Eats platform.
Serve shares are racing higher on heavy trading volume Friday as investors digest the disclosure. According to data from Benzinga Pro, more than 11 million shares have been traded before the opening bell, compared to its 100-day average volume of less than 688,000 shares.
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. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
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: According to Benzinga Pro, Serve Robotics shares are up 52% at $4 at the time of publication Friday.
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Image: Courtesy of Serve Robotics, Inc.
