Why iRobot Stock Lost 20% in July
iRobot (NASDAQ: IRBT) stock trailed the market by a wide margin last month, falling 20% compared to a 1% uptick in the S&P 500, according to S&P Global Market Intelligence. That slump contributed to a roller-coaster ride for shareholders, who had been up by 60% at one point in 2019 but are now looking at declines of nearly 20% for the year.
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Investors reacted harshly to the robotic cleaning device specialist's second-quarter report that showed slowing sales growth and spiking costs. iRobot said in late July that sales came in below expectations for the period even as expenses jumped. Management blamed both issues on what they believe will be temporary dislocations caused by rising tariff rates.
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