Shares of iRobot (NASDAQ:IRBT) took a tumble, while Amazon shares (NASDAQ:AMZN) jumped. This can be attributed to reports that the European Union plans to launch a comprehensive investigation into Amazon’s proposed $1.7 billion acquisition of the Roomba vacuum manufacturer. According to a Reuters report, sources indicate that Amazon is not expected to propose any remedies during the EU antitrust regulator’s preliminary examination of the deal.
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Forget margin or options. Here's how the pros trade AMZNThis development comes on the heels of iRobot’s stock soaring 21% on Friday after the UK’s antitrust regulator greenlit the transaction.
A look at today’s price action demonstrates the level of impact today’s news had on both stocks. While AMZN gained almost 3%, IRBT plunged more than 9% at the time of writing.