SYM, TSLA Stocks Rise On Reports Of Upcoming Govt. Meeting To Discuss Robotics Policies

Semafor reported on Wednesday that the upcoming roundtable is aimed at bolstering the domestic robot industry as U.S. competition with China intensifies.

• The U.S. Department of Commerce is inviting manufacturing robot and humanoid makers alike for the roundtable. 
• The gathering is slated for March 10 and aims to identify key supply chain and policy challenges affecting American robotics manufacturing and deployment.
• Global X Artificial Intelligence & Technology ETF (AIQ) and Global X Robotics and Artificial Intelligence ETF (BOTZ) both climbed higher at the time of writing.

Shares of robot makers rose on Wednesday on the heels of reports that the U.S. Department of Commerce is convening American robot manufacturers for a roundtable next month.

Semafor reported on Wednesday that the roundtable is aimed at bolstering the domestic robot industry as U.S. competition with China intensifies. The department is reportedly inviting both robot and humanoid manufacturers.

Shares of Symbiotic (SYM) edged up as much as 3%, and Tesla (TSLA) shares rose 2% at the time of writing. While Symbiotic builds and operates automated warehouse systems, Tesla is looking to start production of its humanoid robot called Optimus later this year.

Global X Artificial Intelligence & Technology ETF (AIQ) and Global X Robotics and Artificial Intelligence ETF (BOTZ) both added 2%.

Meeting Details

The gathering is slated for March 10 and aims to identify “key supply chain and policy challenges affecting American robotics manufacturing and deployment,” Semafor reported, citing an invitation from Commerce’s National Telecommunications and Information Administration. The report said that the department is gathering the robot makers to seek feedback on federal robotics policies.

The invitation comes weeks after Politico reported that the Trump administration is considering an executive order on robotics this year.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around SYM stock improved from ‘extremely bearish’ to ‘bearish’ territory over the past 24 hours, while message volume fell from ‘low’ to ‘extremely low’ levels.

Meanwhile, sentiment around TSLA stock rose from ‘bullish’ to ‘extremely bullish’ territory amid ‘low’ message volumes.

SYM stock more than doubled over the past 12 months. TSLA, meanwhile, gained 37%. 

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