iRobot soars following Google/Foxconn robot report

iRobot (IRBT +11.4%) has surged to new highs on volume nearly 5x its daily average. The apparent trigger? A WSJ report stating Google is working with giant contract manufacturer Foxconn on deploying robots within the latter's factories.

iRobot has been the occasional subject of Google M&A speculation since the Boston Dynamics deal. However, its product line is focused on home cleaning and defense/security robots.

Shares took off last week in response to a Q4 beat and strong top-line 2014 guidance. 13% of the float was shorted as of Jan. 15.

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Comments (3)
  • alacer
    , contributor
    Comments (4) | Send Message
    According to new on Thinkorswim trading platform at 3PM 2/11/2/14:
    (+) IRBT, Climbs to new all-time high after the Patent Board awards the company for having one of the top patent portfolios in the consumer electronics industry, ranking IRBT fifth overall.
    11 Feb 2014, 04:17 PM Reply Like
  • Eric Jhonsa
    , contributor
    Comments (1276) | Send Message
    Companies send out PRs about awards and favorable rankings pretty often. They very rarely move stocks.
    11 Feb 2014, 04:26 PM Reply Like
  • Stan Ackman
    , contributor
    Comments (1933) | Send Message
    Stocks like IRBT don't need many material news to move. IRBT's current market cap is too small for a well managed company with huge a market potential. It will move above $40 eventually with/without news.
    11 Feb 2014, 04:44 PM Reply Like
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