Serve Robotics Shares Drop as Guidance Cut Overshadows Grubhub Partnership
Shares of Serve Robotics (NASDAQ:SERV) fell by 7%, reversing Monday's gains from a partnership with Grubhub, after the company slashed its FY2026 revenue guidance. The new outlook ranges between $9 million and $10 million—down sharply from an earlier forecast of $26 million—due to weaker-than-expected delivery volumes on Uber Eats. Despite Q2 2026 revenue rising by over 400% year-over-year, the company reported a GAAP loss exceeding $113 million in H1 2026 and now has short interest at nearly 31.9%. Meanwhile, DoorDash (NASDAQ:DASH) shares rose 3%, as its robot delivery channel grew by almost 50% quarter-over-quarter following Uber's decision to sell its stake in Serve Robotics. Symbotic (NASDAQ:SYM), another peer, dropped 5% after missing earnings estimates and is down nearly 29% year-to-date.
Tickers: $DASH $SERV $SYM $UBER