iRobot Stock: Is It a Bargain Opportunity or a Risky Bet Below $9?
Should You Buy iRobot Stock at Below $9?
Things have gone from bad to worse for iRobot (NASDAQ: IRBT) stock. The robotic cleaning device specialist's shares just fell below $9, marking an over 80% decline in the past year.
The weak outlook
iRobot isn't close to sales stabilization, with revenue projected to decline by more than 20% in fiscal Q2 after a 10% drop in Q1.
Financial struggles
iRobot is forecasting significant net losses in 2024 due to declining demand and unsustainable costs.
Bumping along
The company's restructuring plan may start showing results in the second half of 2024, but investors should remain cautious amid worsening sales trends.
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