2023-06-16 11:28:13 ET
Shares of robotic vacuum cleaner company iRobot (NASDAQ: IRBT) suddenly skyrocketed on Friday after some positive news broke regarding its acquisition by Amazon . As of 10:45 a.m. ET, iRobot stock is up about 20%.
In August 2022, Amazon agreed to acquire iRobot for $61 per share in an all-cash deal. Nevertheless, as recently as May, iRobot stock traded as low as $31.80. In other words, the market was saying that it didn't believe the deal would happen.
Regulators appear increasingly skeptical about acquisition by tech giants , including Amazon. However, the United Kingdom's Competition and Markets Authority cleared the deal today.
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Why iRobot Stock Suddenly Skyrocketed Today