Why Is Serve Robotics (SERV) Stock Up 75% Today?

Serve Robotics (NASDAQ:SERV) stock is on the rise Friday as the self-driving delivery robots maker sees heavy trading of its shares this morning. This has more than 5.4 million shares of SERV stock changing hands as of this writing. That’s a massive surge compared to its daily average trading volume of about 532,000 shares. Investors will note that the company’s float is 15.17 million units. It’s also worth mentioning that Serve Robotics revealed details of an upcoming presentation yesterday. That will see it take part in the EnerCom Denver – The Energy Investment Conference. This lasts from Aug, 18 through Aug. 21. Another thing to keep in mind is that SERV is a penny stock. This comes from its prior closing price of $2.63 per share and its market capitalization of $97.57 million. What This Means for SERV Stock Being a penny stock comes with some special conditions. That includes the potential for volatility. This can come from retail and day traders pumping the stock or speculative traders buying up the shares. It’s unclear if one of these is behind today’s movement. Even so, traders should keep that in mind when considering a stake in the company today. SERV stock is up 74.9% as of Friday morning. Investors will want to keep reading for more of the most recent stock market stories! We have all of the hottest news traders need to know about on Friday! That includes the biggest pre-market stock movers on Friday more of the hottest market news. You can read up on all of that at the links below! More Friday Stock Market News Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday Goodbye, ASTR Stock! Astra Space Delists as Take-Private Deal Closes. NVDA Stock Alert: Nvidia Unveils New AI Model With Mistral On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.