Why iRobot Stock Is Surging Today

(NASDAQ: IRBT) stock is making big gains Monday. The company's share price was up 9.4% as of 2 p.m. ET today, according to data from S&P Global Market Intelligence.

iRobot stock has seen volatile swings this year and has frequently seen big valuation movement even in the absence of business-specific news.

Over the weekend, there was news that a new institutional investor had purchased stock in the producer of products like the Roomba robotic vacuum cleaner. Some additional investors are pouring money into the company's shares in response, and the uptick in bullish momentum might be triggering some extra short-squeeze buying.

Source Fool.com