Its shares rose about 19% in early trading. At its peak during the pandemic lockdown, iRobot traded at $197.4 as hygiene-conscious consumers invested in high-end robotic vacuums. Sign up now for FREE unlimited access to Reuters.com Register In addition to sweeping up dirt, Roomba vacuums that cost up to $1,000 collect spatial data about households that could prove valuable to companies developing so-called smart home technology. But its fortunes took a hit as consumers began rethinking how they spend their money amid rising inflation. Its second-quarter revenue fell 30% due to weak demand from retailers in North America and Europe, the Middle East and Africa. Sign up now for FREE unlimited access to Reuters.com Register Reporting by Akash Sriram and Nivedita Balu in Bengaluru. Edited by: Arun Koyyur Our Standards: The Thomson Reuters Trust Principles.
