If You Invested $1K In Symbotic At Its 2022 IPO Price, Here's How Much You'd Have Today

Investing in artificial intelligence (AI) stocks is all the rage. While the long-term return on such stocks remains to be seen, now is the time to get in on the ground floor.

Symbotic Inc. SYM is one of the most popular AI stocks, with a current share price of approximately $34. With a lot of projects on the horizon, many investors are taking a strong look at adding Symbotic to their portfolios.

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Symbotic is a company that specializes in advanced robotics and automation solutions for warehouses and supply chain operations. Here's what you need to know:

• Primary focus: Symbotic's primary offering revolves around an autonomous robotics system for warehouses. The system aims to increase storage density, reduce labor requirements and speed up retrieval and restocking processes.
• Technology: The company's technology includes a fleet of autonomous mobile robots that navigate warehouses to store, retrieve and transport goods. These robots can operate in tightly packed environments, allowing warehouses to optimize space usage.
• Integration: Symbotic's systems can be integrated into existing warehouses to enhance efficiency without the need for a complete overhaul. They provide both hardware (robots, storage racks) and software (warehouse management system) solutions.

Immediately after its initial public offering (IPO) on June 8, 2022, Symbotic became one of the hottest AI stocks to invest in. 

Symbotic entered the public market through a merger with a special purpose acquisition company (SPAC). On its debut day, Symbotic closed trading at $10.54. It reached a peak of $63.54 on July 31, 2023, showing its growth potential. 

Symbotic stock has pulled back a bit since then, currently trading at approximately $34 per share. 

With all that in mind, $1,000 in Symbotic at its opening day price of $10.54 would be good for roughly 95 shares. At today's price of $34 per share, your original investment would be worth $3,230.

Like many AI stocks, Symbotic has been on a roller coaster ride over the past 12 months. With the AI revolution in full swing, there's room for growth.

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