We recently compiled a list of the 10 Firms Shine Amid Wall Street's Lackluster Trading. In this article, we are going to take a look at where Symbotic Inc. (NASDAQ:SYM) stands against the other stocks.

A lackluster trading persisted throughout Thursday, with Wall Street’s main indices ending the day with only marginal changes.

The Dow Jones Industrial Average dipped by 0.16 percent, while the S&P 500 shed 0.21 percent, and the Nasdaq Composite declined by 0.89 percent.

Meanwhile, 10 companies bucked an overall dull trading, having posted impressive gains. Let’s take a closer look at the top performers and explore the factors driving their exceptional results.

To come up with Thursday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A warehouse automation system in operation, with robotic arms managing inventory efficiently.

Symbotic Inc. (NASDAQ:SYM)

Shares of American robotics warehouse firm Symbotic Inc. (NASDAQ:SYM) jumped by 18.86 percent on Thursday—a third consecutive day—to close at $31.82 apiece following news that it was set to take over Walmart’s (WMT) robotics business.

Under the deal, Symbotic will pay Walmart $200 million for the transaction, alongside $350 million in additional future payments, for a total of $550 million.

According to Symbotic Inc. (NASDAQ:SYM), it would be tasked with building and deploying an automation system for Walmart’s accelerated pickup and delivery centers, which will help the retailer speed up the systems that power its in-store pickup and same-day home delivery services.

Walmart will fund a development program to help Symbotic develop that technology; the retailer will pay the technology provider a total of $520 million for the development program.

Overall SYM ranks 2nd on our list of the stocks that skyrocketed today. While we acknowledge the potential of SYM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SYM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stock To Buy Now and 30 Most Important AI Stocks According to BlackRock

 

Disclosure: None. This article was originally published at Insider Monkey.