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Richtech Robotics Inc. (NASDAQ:RR) is one of the best Robinhood penny stocks to invest in. On August 29, the developer of artificial intelligence autonomous robots announced the completion of a pilot program with the top five automotive dealerships by revenue in the U.S.
The successful pilot program has already led to one client confirming their intention to proceed with additional statements of work for their dealership locations. Consequently, Richtech Robotics is to undertake projects for the client as part of a Master Service Agreement signed in April.
The MSA agreement remains active as long as at least one statement of work is in effect. It will also automatically renew for an additional 12-month period. Additionally, Richtech Robotics has secured a sales agreement valued at over $4 million with Beijing Tongchuang Technology Development Co., Ltd. The deal is for the purchase and provision of services related to the company’s three product lines and is expected to impact fourth-quarter revenues positively.
Richtech Robotics Inc. (NASDAQ:RR) develops and sells AI-powered autonomous service robots for the hospitality, healthcare, and commercial sectors. The company’s robots automate tasks such as indoor transport and delivery, sanitation, and food and beverage services. Richtech’s product portfolio includes delivery robots, such as Matradee and Titan, sanitation robots like DUST-E, and beverage automation robots.
While we acknowledge the potential of RR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 12 Best Cybersecurity Stocks to Buy Right Now and 10 Best American Mining Stocks to Buy Now.
Disclosure: None. This article is originally published at Insider Monkey.
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