Why iRobot Corporation Was a Big Mover Last Week, and What to Expect in the Weeks Aheadhttp://www.fool.com/investing/general/2013/12/23/why-irobot-corporation-was-a-big-mover-last-week-a.aspx Tamara Walsh
December 23, 2013
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
The robotics industry is red-hot lately, in part, thanks to recent announcements from Google (NASDAQ: GOOG) and Amazon (NASDAQ: AMZN). However, iRobot Corporation (NASDAQ: IRBT) was another standout last week, after shares gained more than 19% on a mix of industry news and analyst upgrades. Let's take a closer look at why iRobot was a big mover last week, and what investors can expect from the stock.
Riding Google's coattails
In fact, more businesses than ever are using robots today to help cut costs and improve manufacturing processes. Amazon, for example, paid $775 million last year to buy autonomous machines maker Kiva Systems. Today, Amazon's Kiva robots help the company save hundreds of millions of dollars by streamlining Amazon's order fulfillment system. Amazon is even testing drone automatons now that are capable of delivering packages weighing less than five pounds.
With more companies across various industries using robots, it might not be long before we see iRobot deploy automatons for manufacturing use. While iRobot is best k