Richtech Robotics stock soared 17% through 12:45 p.m. ET on Tuesday after the company announced plans to buy back $12 million worth of stock. The Las Vegas-based robotics company, which builds restaurant, bartending, delivery, and industrial humanoid robots, saw its shares fall 35% in the first half of this year. Richtech remains a start-up with single-digit millions in revenue, negative earnings, negative free cash flow, and a market capitalization of less than $400 million. Only one analyst follows the stock, with a hold rating, but S&P estimates see revenue doubling over the next couple years and losses steadily falling.
Richtech Robotics Inc. Class B Common StockAnnounced $12 million stock buyback plan, boosting shares 17%.
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