Transcript
A (0:00)
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B (0:30)
This is Scott Becker with the Becker Business and the Becker Private Equity podcast. We try and each day bring you one to two market insight episodes or business thinking episodes, as well as an interview with a business leader. Today's discussion is Roomba Goes Broke. So so here's the deal. Roomba is that robotic vacuum cleaner that did that. This sort of self vacuuming of your living room, your bedroom, wherever you were using it. At one point. This seemed to be all the new rage in one of the early cases or use cases for robots. And what a great concept that it would like clean your house without you having to do it or hiring somebody to do it somewhere. There were one molars that were sort of set up like this too, though I've not seen them really proliferate. But in any event, Roomba's going broke and here's what's happened. They blame part of this on tariffs. Their main supplier is in China. They import almost everything from China, even though they're US based. On Friday, the stock went down about 14%. Today, as they actually file for bankruptcy, the stock is down about 80%. Their hope is that essentially their main supplier, who's based in China, will take them over and keep operating largely as normal and that it'll move back in the right direction. An amazing invention. Again, it's found itself in a lot of trouble. Now. The stock has been down over the last five years, about 94%. That's before today's loss of probably almost everything. What they have said is the common stockholders in this bankruptcy are likely to be entirely wiped out. So, so that's where they stand. The supplier from China will take over the company. Most likely. That's where it's going again. Ruba Roomba, one of those ubiquitous interesting things God loves the idea, is now going bankrupt. Roomba goes broke. Thank you for listening to the Becker Business Podcast. If you get a chance, go online in Amazon, buy our newest book, Building Great Businesses, Create Momentum, Overcome Setbacks and Scale with confidence. Thank you so much for listening to the Becker Business and the Becker Private Equity podcast. Thank you.
C (2:48)
Hey, this is Sarah. Look, I'm standing out front of AM PM right now, and, well, you're sweet and all, but I found something more fulfilling, even kind of cheesy. But I like it. Sure, you met some of my dietary needs, but they've just got it all, so farewell, Oatmeal. So long, you strange soggy.