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Walmart owns nearly 59 million shares of Symbotic.
Photograph by George Frey/Getty Pictures
Symbotic
shares had been rising sharply Tuesday after
Walmart
disclosed it holds a 62.2% stake within the synthetic intelligence provide chain expertise firm.
Symbotic
(ticker: SYM) shares gained 28.5% to $21.58 in premarket buying and selling. The inventory’s excessive over the previous yr is $20.77.
Walmart
(WMT) rose 0.6% early Tuesday.
In a regulatory submitting, Walmart disclosed it owns nearly 59 million shares of Symbotic.
In late Might, it was introduced that Symbotic’s robotics and software program automation platform could be put in in all 42 of Walmart’s regional distribution facilities. Beforehand, the settlement was for 25 regional distribution facilities.
Symbotic went public earlier this month in a merger with SVF Funding Corp. 3, a SPAC firm.
Write to Joe Woelfel at joseph.woelfel@barrons.com
