Is It Too Late to Buy Symbotic Stock?
Symbotic (NASDAQ: SYM) stock has been on fire in 2023, riding the coattails of recent advances in artificial intelligence (AI). Share prices of the warehouse and supply chain automation specialist are up 367% so far this year, more than 19 times the increase of the S&P 500. This is far better than its performance last year. After its debut on the public markets via a reverse merger with a special purpose acquisition company (SPAC) in June 2022, the stock sank, closing out last year down by 40%.
Symbotic's rally in 2023 has been fueled by the robust adoption of its services and strong financial results, as well as its deep ties to AI. It reported record sales and accelerating deployment, and some investors are betting there could be further gains ahead.
However, investors who missed out on the stock's blistering rally are left with a quandary: With such a run-up in the rear-view mirror, is it simply too late to jump in, or can investors who buy now hope for further strong gains?
Source Fool.com
