iRobot Shares Crash

iRobot (IRBT) closed today (02012.02.09) at $25.17, down 34.3% for the day. [34.3% is not a typo] Volume was 7.16 million vs. a trailing-3-month avg. of 0.29 million (i.e. almost 25-times avg.). I guess my good-till-cancel order to sell some of our IRBT shares at $42 isn't going to hit anytime soon.

IRBT has a float of ~25 million; therefore, ~28% of the float was traded on this huge down day.

IRBT dropped to #2 in the GDT::Portfolio with GOOG (Google) taking over the #1 position. Our IRBT investment remains well above water, but today really hurt the overall health of the GDT::Portfolio.

SeekingAlpha.com::iRobot's CEO Discusses Q4 2011 Results - Earnings Call Transcript

I'm glad iRobot mentioned the following in their earnings call: "Our intellectual property is very strong and a key barrier to others considering entry into our markets. With more than 100 US patents and more than 150 additional pending US patent applications, we have a formidable market-leading position." Pending patents might not become patents. In addition, it can cost a lot of money to defend patents.

"Our robots are part of the future," said iRobot CEO Colin Angle. I'm hoping Colin is right.