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Investing.com -- Serve Robotics Inc. (NASDAQ:SRVB) shares soared by 14% on Wednesday following the announcement that the autonomous delivery company is expanding its operations to the Miami metro area.
The surge in stock price reflects investor enthusiasm as Serve Robotics revealed the growth of its partnership with Shake Shack (NYSE:SHAK), along with a new deal with Mister O1 Extraordinary Pizza.
The company’s strategy involves deploying its delivery robots to manage orders from select locations in the Brickell and Miami Beach neighborhoods through Uber (NYSE:UBER) Eats.
The expansion into Miami signifies a significant step for Serve Robotics, building on its multiyear growth in Los Angeles and its forthcoming entry into the Dallas-Fort Worth market.
This move is seen as a catalyst for the stock’s positive performance, as investors respond to the company’s ongoing efforts to scale up its service offerings and market presence.
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