Thursday, October 24, 2013

iRobot (IRBT) Experiencing Extreme Volatility

I posted the following two days ago on 02013.10.24.
iRobot (IRBT) reported 3Q'13 results after the market closed today (02013.10.22). The press release started out with "bad" news.
"I am pleased to report that we delivered Q3 results in line with our expectations." -- iRobot CEO Colin Angle

On 02013.10.22 IRBT closed at $36.45. After the close the company announced 3Q'13 results. The next day, on 02013.10.23, IRBT opened at $32.50, down 10.8%. IRBT closed yesterday at $34.86, down 4.4% for the day. Volume was 2.1M vs. trailing-3-month avg. of ~0.46M. Today, IRBT closed at $37.64, up almost 8.1%. Volume: ~0.8M. I don't know what's going on. In a nutshell, I don't need to know what's going on because I consider IRBT a long-term investment. I believe robotics is our future and iRobot is a robotics company.

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