During premarket trading, shares of Symbotic (ticker: SYM) rose by 28.5% to $21.58. In the last year, the stock’s all-time high has been $20.77 Shares of Walmart (NYSE: WMT) were up 0.6 percent early Tuesday.
Walmart has revealed that it holds around 59 million shares in Symbotic in a regulatory filing.
Walmart’s 42 regional distribution facilities will be equipped with Symbotic’s robotics and software automation platform by the end of the month. Before this arrangement, 25 regional distribution centers were to be established.
Earlier this month, Symbotic was bought by SVF Investment Corp. 3, a SPAC firm, and became a publicly listed corporation.
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