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Why Serve Robotics Stock Plunged 52% in August

TheMotleyFool

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Why Serve Robotics Stock Plunged 52% in AugustPhoto, wide shot, wide-angle lens, Home appliance manufacturer, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/fb3845ac-e3c6-43ef-86c1-b57ed8c272c4.png

Shares of Serve Robotics (NASDAQ: SERV) took a dive last month as investors seemed to think the stock had been previously overbought. A brief pop in the restaurant-delivery robot company's second-quarter earnings report wasn't enough to counteract the downward momentum after Nvidia took a stake in the robotics company.

According to data from S&P Global Market Intelligence, the stock finished August down 52% on the news. As you can see from the chart below, the stock fell in most of its sessions last month.