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Why Serve Robotics Stock Lost 22% in November

TheMotleyFool

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Why Serve Robotics Stock Lost 22% in NovemberPhoto, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png

Shares of Serve Robotics (Nasdaq: SERV) were falling last month as the maker of restaurant delivery robots posted an underwhelming third-quarter earnings report. Additionally, the broader sell-off driven by fears of an AI bubble also seemed to weigh on the stock. Serve, whose robots can be seen rolling down the sidewalk, is still a speculative stock as it's bringing in less than $1 million in quarterly revenue.

According to data from S&P Global Market Intelligence, the stock finished the month down 22%. As you can see from the chart below, the stock dipped through the first three weeks of the month before a late recovery in the last week of November.