iRobot falls for seventh 7th day, deal spread widest since Amazon buyout announced
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iRobot Corp. (NASDAQ:IRBT) dropped 1.9%, falling for the seventh day in a row, and its now trading below where it did before Amazon announced deal to purchase the robot vacuum company.
iRobot (IRBT) is now trading ~$47.50 and has traded below where it was before Amazon announced its $1.7 billion planned purchase on Aug. 5 for the past four days. The deal spread at ~$13.14 is also the widest since the Amazon deal was revealed.
Some investors have been concerned about antitrust issues with Amazon (NASDAQ:AMZN) purchase, especially in the U.S. and the U.K. Investors are also worried about iRobot's Q3 results, which included a revenue and EPS miss.
Amazon (AMZN) and iRobot (IRBT) received a second request to do a more in-depth review from the Federal Trade Commission in September. In October Sen. Elizabeth Warren (D-MA) as well as five other members of Congress urged the FTC to block the transaction.
Last month it was reported a that nonprofit tech watchdog group was urging the U.K.'s competition regulator to investigate the Roomba maker's planned sale to Amazon.
The weakness also comes after the FTC on Thursday sued to block Microsoft's (MSFT) planned $69 billion planned purchase of Activision.
iRobot (IRBT) short interest is 22%.