Evercore ISI senior managing director Mark Mahaney says other top stock picks include Meta, Uber and Doordash.
Shares of iRobot closed up nearly 40% on Friday following a report that Amazon’s acquisition of the Roomba-maker is set to be approved by European regulators.
Reuters cited three people familiar in reporting that Amazon’s planned $1.4 billion deal to purchase the robot vacuum cleaner manufacturer will win unconditional approval from the European Commission. iRobot’s stock surged 39.08% on the day, closing at $41.48 a share.
iRobot vacuum cleaners are seen in a Target superstore. (Alex Tai/SOPA Images/LightRocket via Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| IRBT | IROBOT CORP. | 41.48 | +11.65 | +39.08% |
iRobot did not immediately respond to FOX Business’ request for comment on the report. An Amazon spokesperson declined to comment, calling the report “rumors.”
The companies first announced the acquisition in August 2022, and it was cleared by the Competition and Markets Authority, British antitrust regulators, in June of this year.
iRobot’s most famous product is the Roomba automatic vacuum cleaner, but the company also makes other robots for the home as well as for the U.S. military. (James Leynse/Corbis via Getty Images / Getty Images)
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The European Commission announced the next month it had opened an in-depth investigation into the deal, saying it was “concerned that the transaction would allow Amazon to restrict competition in the market for robot vacuum cleaners and to strengthen its position as online marketplace provider.”
iRobot shares soared Friday following a report that Amazon’s acquisition of the Roomba-maker will soon be one step closer to a done deal. (ANGELA WEISS/AFP via Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 146.74 | +0.03 | +0.02% |
The acquisition also remains under review by the U.S. Federal Trade Commission, which was also worried about Amazon’s growing market power.
Shortly after the deal was announced, Ron Knox, a senior researcher at the Institute for Local Self Reliance, said it was the “most dangerous, threatening” acquisition in the e-commerce behemoth’s history, FOX Business previously reported.
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Amazon said in a statement in June that both companies were “working cooperatively with the relevant regulators in their review of the merger.”
FOX Business’ Daniella Genovese contributed to this report.
