TSX drops after Canadian index edges higher in prior session
Brian Read, Chief Financial Officer of Serve Robotics Inc. (NASDAQ:SERV), sold 1,270 shares of common stock on October 30, 2025, at a price of $13.32, for a total value of $16,916. Following the transaction, Read directly owns 353,827 shares of Serve Robotics Inc.The sale comes amid SERV’s significant price momentum, with shares up 124.47% over the past six months according to InvestingPro data. Currently trading at $13.03, the stock appears overvalued based on InvestingPro’s Fair Value assessment. With a market cap of $981.51 million and the company’s next earnings report due on November 12, investors should note that analysts expect SERV to remain unprofitable this year despite anticipated sales growth. InvestingPro offers 14 additional tips and a comprehensive Research Report on this high-volatility stock.
In other recent news, Serve Robotics Inc. announced a $100 million registered direct offering of common stock, expected to generate significant gross proceeds. The transaction is anticipated to close around October 14, with Northland Capital Markets acting as the sole placement agent, while Oppenheimer & Co. Inc. and Wedbush Securities Inc. serve as capital markets advisors. This development follows the company’s new partnership with DoorDash to expand its autonomous delivery services, which has already been rolled out in Los Angeles and aims to reach other parts of the United States. In addition, Serve Robotics has launched its autonomous delivery service in Chicago, marking its first expansion into the Midwest, serving over 100 restaurants across multiple neighborhoods. Cantor Fitzgerald has reiterated its Overweight rating on Serve Robotics, maintaining a price target of $17.00, reflecting confidence in the company’s growth trajectory. The company also celebrated the deployment of its 1,000th third-generation autonomous delivery robot, with 380 units deployed in September alone. Serve Robotics remains on track to meet its goal of deploying 2,000 robots by the end of 2025.
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