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!
Originally published at Howard Lindzon.