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What Happened When Alex Kenjeev Paid His Student Loan in CashWe've all seen the infomercials selling those ridiculous vacuums that roll around the floor on their own. And if limited to that role, I'd find little intriguing about the company behind these products -- iRobots (NASDAQ:IRBT). But to my surprise, the company has much more sophisticated units, with a range of potential roles in areas such as lawnmowers to military ordinance detection.
Gregg Early, the editor of The Real Nanotech Investor explains, "iRobot was quite the sensation, and when it issued its initial public offering in late 2005, it took off like a rocket. Then people started to sober up and wonder how a little company that makes cool robotic vacuums could survive as a publicly traded company."
"I mean, how many do you need?" he asks. Many other investors apparently felt the same as the stock plummeted. Then, notes Early, the company recently released depressing earnings news, and the stock is sold off further, nearing 52-week lows.
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