It’s been mostly lollipops and balloons in my 8-80 list and my trend following accounts the last few years.
But, all good things come to an end.
Today I lost an old fave…iRobot.
The stock peaked at $105 a few months back on news that Softbank was taking a 5 percent stake. Turns out Softbank was the top tick. A nice start for their ‘Vision’ fund. Today it closed at $65. Softbank has lost a quick 40 percent.
It was one of my favorite stocks heading into 2017. The trend was good to me as I rode it from the 30’s. My last piece I parted with today is still up 100 percent. If you follow me here and on Stocktwits I was selling stock on the ride up as well.
The robot trade is just beginning but iRobot is no longer leading it.
If it gets past it’s highs one day I will revisit the stock.
Ivan posted this chart today of iRobot which shows how heavy the stock has been:
He also mentioned that he was at Target the other day and there were 6 robot vaccum cleaner products on the shelves and none of them was iRobot.
It turns out the robots are eating the robots and it’s only 2017!
Also published on Medium.