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Robotics is the core of automation in a variety of business sectors. In this day and age, with the demand for and proliferation of artificial intelligence- and machine learning-based technologies, the robotics sector could experience a real boom.
Gary Cohen's appointment as iRobot's CEO brings a promising outlook for the company. iRobot's restructuring efforts aim to streamline operations and enhance shareholder value.
Amazon scuttled its deal to buy iRobot because of regulatory pushback. As soon as the deal was called off, iRobot went into triage mode, including starting the search for a new CEO.
There are multiple signs that robots are already being used on a very wide scale and will soon proliferate throughout society. For example, Tesla (NASDAQ: TSLA ) recently reported that it had begun successfully using two of its humanoid, artificial intelligence-powered autonomous robots in one of its factories.
iRobot Corp's stock price is trading for a fraction of the Amazon takeover price as the deal was canceled in January 2024 due to EU regulatory scrutiny. iRobot's financial performance has declined due to intense price competition and eroding market share in the robotic vacuum market. Despite restructuring efforts, iRobot may continue to report operating losses and face challenges with an upcoming term loan maturity.
BEDFORD, Mass. , June 13, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, announced the addition of Julien Mininberg, former chief executive officer of Helen of Troy, to its board of directors.
PHILADELPHIA, PA / ACCESSWIRE / June 11, 2024 / Kaskela Law LLC announces that it is investigating iRobot Corporation (NASDAQ:IRBT) ("iRobot") on behalf of the company's shareholders. Since December 2023, shares of iRobot's common stock have declined in value from a trading price of $39.00 per share to a current trading price of below $10.00 per share, a decline of $30.00 per share, or 77% in value.
BEDFORD, Mass. , June 11, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that it granted equity awards on June 7, 2024 as a material inducement to the employment of the company's newly-hired Chief Executive Officer, Gary S.
iRobot (IRBT) reported earnings 30 days ago. What's next for the stock?
iRobot's sales are falling and it's losing money at an upsetting pace. The company has a new CEO with turnaround experience and fixing its gross margin should be one of his first orders of business.