Why iRobot Stock Suddenly Skyrocketed Today
Shares of robotic vacuum cleaner company (NASDAQ: IRBT) suddenly skyrocketed on Friday after some positive news broke regarding its acquisition by Amazon. As of 10:45 a.m. ET, iRobot stock is up about 20%.
In August 2022, Amazon agreed to acquire iRobot for $61 per share in an all-cash deal. Nevertheless, as recently as May, iRobot stock traded as low as $31.80. In other words, the market was saying that it didn't believe the deal would happen.
Regulators appear increasingly skeptical about acquisition by tech giants, including Amazon. However, the United Kingdom's Competition and Markets Authority cleared the deal today.
Source Fool.com
