What's Going On With Richtech Robotics Stock?

Richtech Robotics Inc. RR shares are volatile Friday. The company launched a new, AI-powered beverage service robot and announced a distributor agreement for the robot on Thursday. 

The Details:

On Thursday, Richtech Robotics shares climbed more than 9% after the company launched Scorpion. Scorpion is an AI-powered single-arm beverage service robot that provides customized drink recommendations using NVIDIA AI technologies to support its cocktail and wine-tasting programs.

The company also announced a distributor agreement with Park 34 Liquor Store Inc., under which the distributor has agreed to sell a minimum of 500 Scorpion units over five years, followed by a minimum of 500 units annually.

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“We are focused on providing solutions that streamline operations, increase efficiency, and create cash flow for our clients. With that focus, we are proud to unveil Scorpion, sleek in design, agile in its offerings, and eye-catching for customers,” said Matt Casella, Richtech Robotics President. 

“By incorporating NVIDIA technologies with our own capabilities, we are helping elevate the industry to a new standard of precision and service,” Casella added. 

Richtech Robotics shares climbed in Friday’s premarket trading, but reversed lower just before the opening bell. The stock is moving on heavy volume, with more than 16 million shares already traded in the session, according to data from Benzinga Pro.

How To Buy RR Stock:

By now you're likely curious about how to participate in the market for Richtech Robotics – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

RR Price Action: According to Benzinga Pro, Richtech Robotics shares are down 12.3% at 81 cents at the time of publication Friday. 

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Image: Courtesy of Richtech Robotics, Inc.