Shares of Serve Robotics Inc. (NASDAQ: SERV) surged 13.96% in the pre-market trading session on Wednesday, driven by the company's announcement of entering the Miami metro market and a bullish analyst call from Northland Securities.
SERV revealed its expansion into the Miami area, offering autonomous sidewalk delivery services in partnership with Shake Shack and Mister O1 Extraordinary Pizza through Uber Eats. This marks the company's first entry into the East Coast market, aligning with its goal of deploying 2,000 robots across the United States by the end of 2025.
In a separate development, Northland Securities analyst Michael Latimore reiterated a Buy rating on SERV stock, calling it a "great buying opportunity" after the recent sell-off. The bullish call further fueled investor optimism, contributing to the stock's pre-market rally.
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