Why iRobot Stock Fell 10% This Week
iRobot (NASDAQ: IRBT) shareholders lost ground to a slumping market this week. The robotic-device specialist's stock shed 10% through Thursday trading, compared to a 2.8% drop in the S&P 500, according to data provided by S&P Global Market Intelligence. That drop pushed shares to a new low for the year, down 44% since the start of 2021.
The decline wasn't driven by specific operating news out of the company, but instead, by general investor fears about its short-term earnings prospects.
iRobot's last earnings report showed continued solid demand for its robotic-cleaning devices through early April. Revenue rose 33% in the core U.S. market, for example, and jumped 25% in Japan. Yet there were also signs of significant stress on the business.
Source Fool.com
