Ww Roomba models just around the corner, the new-and-improved Scooba models selling well (there is a 3-4 week wait for the $450 version!), Roombas selling as well as ever, two new unannounced products coming out, iRobot Verro selling, a robotic lawnmower likely coming next year, and the prospect of major military contracts coming in the next several months, let alone next year when several new military robots hit the market, iRobot's stock (NASDAQ:IRBT) IMHO should be going in one direction: Up.
Last year, the stock was weighed down by overhang from an overly optimistic '05 Christmas stocking season, the initial resistance to Scooba's $399 pricepoint and lingering quality control issues. Company executives also didn't understand how to talk to the market -- they are engineers, not Wall Street gurus -- and took too long to realize the damage coming from insider selling. The company has adapted, knows a lot more, and has been steadily fixing the problems. And the fruits of years of R&D are about to hit the market. This is not last year's iRobot.
I'm more bullish today than I've ever been.
Cheers.
Tags: iRobotith ne
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