PHILADELPHIA, PA / ACCESSWIRE / June 11, 2024 / Kaskela Law LLC announces that it is investigating iRobot Corporation (NASDAQ:IRBT) ("iRobot") on behalf of the company's shareholders. Since December 2023, shares of iRobot's common stock have declined in value from a trading price of $39.00 per share to a current trading price of below $10.00 per share, a decline of $30.00 per share, or 77% in value.
iRobot (IRBT) reported earnings 30 days ago. What's next for the stock?
iRobot's sales are falling and it's losing money at an upsetting pace. The company has a new CEO with turnaround experience and fixing its gross margin should be one of his first orders of business.
iRobot has recently unveiled a new CEO who it hopes can help navigate its turnaround. The company's financials aren't in great shape, with sales falling and iRobot anticipating a sizable loss in 2024.
Amazon's acquisition of iRobot fell through and the stock has been in a free fall ever since. The stock trades at a cheap price and could have huge upside if it regains investors' confidence.
There are some key robotics stocks for investors to buy in May, amid the broader indices like the Nasdaq surging upwards. Some analysts expect the rally for tech stocks in general will continue.