Symbotic ( (SYM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Symbotic’s stock took a hit after UBS downgraded it to ‘Sell’, citing concerns over its high valuation and stagnant growth beyond its primary customer, Walmart. The company’s recent financial results failed to demonstrate significant customer expansion, and upcoming sales challenges are expected to affect earnings. Additionally, competitive pressures and potential risks from Amazon’s expansion add to the worries.
More about Symbotic
YTD Price Performance: 145.77%
Average Trading Volume: 2,366,762
Technical Sentiment Signal: Buy
Current Market Cap: $35.86B
For further insights into SYM stock on TipRanks’ Stock Analysis page.
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