Why AI Stock Symbotic Crushed the Market Today

As the stock trading week came to a close on Friday, Symbotic (NASDAQ: SYM) was an outlier in the best way possible. Shares of the artificial intelligence (AI) industrial solutions provider soared nearly 9% higher during the session, thanks to several positive analyst reactions to its recent news about a project with a top retailer. That 9% was well higher than the 0.8% gain posted by the S&P 500 index on the day.That news, disseminated on Thursday, concerned Symbotic's new deal with Walmart's majority-owned Walmex, essentially its operations in Mexico and the Central America region. Under the terms of the arrangement, Symbotic is to supply its AI-powered technology in two Walmex distribution facilities in Mexico. The financial terms of the work were not disclosed.Although Walmart is not a new client for Symbotic -- in fact, it is a major investor in the AI company -- the south-of-the-border deal indicates the massive U.S. retailer continues to be hungry for the company's solutions. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool