Why iRobot Corporation Stock Dropped 19.2% in September
Shares of iRobot Corporation (NASDAQ: IRBT) fell 19.2% in September, according to data from S&P Global Market Intelligence, as short-seller Spruce Point Capital updated its bearish report on the home-robot maker to highlight -- among other long-held criticisms -- the entrance of a new competitor.
The bulk of iRobot's decline last month came on September 13, 2017, when Spruce Point argued that SharkNinja's new robotic vacuum posed a "credible threat to iRobot" and its Roomba line of products.
IMAGE SOURCE: IROBOT.
Source: Fool.com