Why iRobot Stock Jumped on Friday
Shares of iRobot (NASDAQ: IRBT) were up 19% as of 10:56 a.m. ET on Friday after the company reached a deal to be acquired by Amazon (NASDAQ: AMZN). The Roomba vacuum maker agreed to an all-cash transaction worth $1.7 billion, or $61 per share.
Year to date, shares of iRobot are down 9.6%.
The deal is extra sweet for iRobot shareholders who have seen their shares underperform the S&P 500 in the last decade. Over the last five years, the company's shares are down 42% compared to the S&P 500's return of 67%.
Source Fool.com
