Time to buy iRobot (Nasdaq: IRBT) – Long Term Investors Only
I am officially adding iRobot Corporation to the ‘My Recommendations’ List.
In my last article, I highlighted iRobot Corporation (NASDAQ: IRBT) as one of the companies I would like to look into investing long term. I also mentioned that I would not recommend and hold my judgment until after they release earnings. The earnings were released on Tuesday, 2/14/2006, and the stock got killed. On Wednesday, the stock went down about 21% and is within range of its IPO price of $24. The stock closed at $25.70 today and to be honest, there is not a lot of upside right now.
The best way to invest would be to buy a little at a time and adding to your positions over time. There is no need to buy all at once, since it could see further downside. The technology, executive team and popularity of its products such as the Roomba make me believe in this company long term. Robotics will play a big part in all our future and I would bet on iRobot to play a major role to fulfill the vision.
Read my earlier article on iRobot for more on the company.
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