Why iRobot Stock Just Rocketed 51.5%
Shares of Roomba maker iRobot (NASDAQ: IRBT) roared out of the gate Monday, climbing 51.5% through 10:45 a.m. EST in apparent delayed reaction to an endorsement from Investor's Business Daily.
On Thursday last week, IBD reported that iRobot stock has improved its "relative strength" rating from 61 to 72. Citing "over 100 years of market history," the paper noted that "the market's biggest winners" are those that score "north of 80" on IBD's 1-99 relative strength scale.
iRobot, in the paper's estimation, was approaching a "buy point" and should be bought just as soon as it crosses a share price of $98.65.
Source Fool.com
