Symbotic Shares Lose 20% After Debut Surge

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Symbotic Shares Lose 20% After Debut Surge

Dow Jones2022-06-09

By Dean Seal

Symbotic Inc. shares fell 25% to $15.11 in early trading Thursday after more than doubling during their trading debut a day earlier.

The logistics-focused artificial-intelligence company agreed to combine with a special-purpose acquisition company in December in a deal that valued Symbotic at $5.5 billion.

After debuting at about $10 on Wednesday, shares soared to a high of $20.77 and closed at $20.07.

Write to Dean Seal at dean.seal@wsj.com

$(END)$ Dow Jones Newswires

June 09, 2022 10:22 ET (14:22 GMT)

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Jimmywai
·2022-06-14
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