Why iRobot Stock Jumped This Week
Shareholders of iRobot (NASDAQ: IRBT) trounced the market this week as shares jumped 17% through 2:30 p.m. ET on Thursday. That's as compared to a 2.2% increase in the wider market, according to data provided by S&P Global Market Intelligence.
The rally removed only a small portion of recent losses, and the stock remains down significantly so far in 2022. But investors are becoming more optimistic ahead of the robotic cleaning device specialist's upcoming earnings report.
The main factor driving iRobot's stock higher this week was a shift in overall investor sentiment. The tech-heavy Nasdaq index, which is home to iRobot and many other hard-hit growth stocks, rallied 10% higher as Wall Street contemplated the prospect that stocks have become oversold in recent weeks.
Source Fool.com
