IRBT
📉 iRobot’s new management indicated last quarter that the company might face bankruptcy, highlighting severe financial distress.
🚫 The U.S. Department of Justice blocked Amazon’s planned acquisition of iRobot, a move seen as detrimental to the company’s survival and future prospects.
🇨🇳 While iRobot struggles, Chinese competitors like RoboRock are thriving and even planning IPOs, capturing market share potentially lost by the U.S. company.
@bernardodegarcia:
“Do you remember we analyzed iRobot quite a bit and found it interesting, but we said, well, a bit of caution to see how the new management team does. Well, the new management team said last quarter that they will probably end up in bankruptcy. Thanks, U.S. Department of Justice, for killing off an American company. The vacuum cleaner manufacturer RoboRock… is considering selling shares in Hong Kong… it’s doing so well… it’s seeking an IPO to raise $500 million… Currently, iRobot’s capitalization is, what a disaster, $75 million. The considerations are at an early stage… But the truth is there are companies in the same industry as the American ones that are Chinese, that are with cameras in our homes analyzing what we do, what we eat, what we have on the floor, our pets, and so on, and probably passing this information to the Chinese government. And on the other hand, well, the U.S. government or the former U.S. government, the Department of Justice, literally killed iRobot because, as you know, Amazon was going to buy iRobot for $60 or something like that… it jumped from 35 to 60, so around $65, and the Department of Justice said, ‘No, bad, not you.’ And so iRobot, well, nothing, American jobs and technology that won’t find a future.”
Watch the exact part of the video where @bernardodegarcia talks about iRobot here:
Watch the video on YouTube
Read more articles analyzing iRobot (IRBT) at the provided link. IRBT stock.
