Serve Robotics stock soars 241% after Nvidia takes $4 million stake in the company [Yahoo! Finance]
SoundHound AI, Inc. (SOUN)
Company Research
Source: Yahoo! Finance
Serve Robotics focuses on self-driving delivery vehicles for last-mile deliveries. Shares of Serve Robotics soared as much as 241% on Friday after Nvidia disclosed a stake in the company. According to a Form 4 filing made with the SEC on Thursday, Nvidia purchased 1.05 million shares of Serve at a price of $2.42 per share in April, representing a total investment worth just over $3.7 million. The stock purchase was pursuant to a 6.0% convertible debt note that Nvidia held on the company. The bond was converted to stock following Serve Robotics public debut in April. Serve Robotics was founded in 2017 and develops and operates self-driving vehicles focused on last-mile delivery. The automated delivery boxes travel via sidewalks and often deliver food orders for delivery platforms like Uber Eats. "Why deliver 2 pound burritos in 2 ton cars?" Serve asks on its website. Serve Robotics is small, with a market valuation of about $275 million on Friday. Before the surge on Fri
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SOUN
News
- SoundHound AI: Not Pitch Perfect, But Sounding Better (Rating Upgrade) [Seeking Alpha]Seeking Alpha
- SoundHound AI: More Compelling After The Acquisitions - Upgrade To Speculative Buy [Seeking Alpha]Seeking Alpha
- SoundHound AI: A Breakout Rally Appears Imminent [Seeking Alpha]Seeking Alpha
- SoundHound AI Inc. (SOUN): A Penny Stock That Will Make You a Millionaire [Yahoo! Finance]Yahoo! Finance
- 2 AI Stocks to Buy Before It's Too Late [Yahoo! Finance]Yahoo! Finance
SOUN
Earnings
- 8/8/24 - Beat
SOUN
Sec Filings
- 8/22/24 - Form 4
- 8/9/24 - Form 10-Q
- 8/8/24 - Form 8-K
- SOUN's page on the SEC website