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Why iRobot Stock Plunged 20% in April

·3-min read
Why iRobot Stock Plunged 20% in April

Shares of robot vacuum specialist iRobot (NASDAQ: IRBT) tumbled 20.1% in April, according to data provided by S&P Global Market Intelligence, compared to an 8.8% decline for the S&P 500. The situation didn't get any better in May, with iRobot reporting first-quarter sales that fell well below expectations. In iRobot's fourth-quarter report in February, the company disclosed that around $35 million worth of orders went unfulfilled due to semiconductor shortages and shipping delays.

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