Shares of Serve Robotics Inc. (SERV) surged by more than 33% in pre-market trading on Wednesday, reaching $13.88. The rise follows the announcement of a new partnership where the company's sidewalk delivery robots will facilitate Shake Shack deliveries via Uber Eats.
This collaboration allows customers in select Los Angeles Shake Shack locations who order through Uber Eats to receive their food via Serve Robotics' autonomous robots.
"We are thrilled to incorporate another national brand like Shake Shack into our network. This partnership, enabled by our robust relationship with Uber Eats, is a continuation of our success, having completed tens of thousands of deliveries," commented Touraj Parang, President and COO of Serve Robotics.
The company's stock had closed at $10.37 on Tuesday, registering a 7.49% decline. Over the past year, it has fluctuated between $1.77 and $30.00.
