Trading volumes are relatively light this Cyber Monday. Relative volume is barely above 0.5 for the S&P 500, Dow, and Russell 2000 (IWM).
iRobot (IRBT) plunged 20% after the European Commission informed Amazon (AMZN) of its concerns about the buyout. The EU found in its preliminary view that Amazon acquiring iRobot might restrict competition for robot vacuum cleaners.
The claim is puzzling. The RVC has many suppliers. Furthermore, consumers are hesitant to buy automated vacuums when inflation is so high. Still, the decision is consistent with that of the U.S. Federal Trade Commission action. Last September, it asked iRobot to do a more detailed review of the Amazon deal.
In the basic materials sector, Albemarle fell by 5.4%. Investors remain for investing in lithium mining stocks. EV stocks are out of favor as demand for vehicles falls. Within the specialty chemicals sector, CF Industries (CF) dropped 3%.
Walgreens (WBA) is about to break down below $20.00. High theft rates are hurting results.
In the Health Information Service sector, GE HealthCare Technologies (GEHC) dropped by 3.2%. Investors are taking profits after the firm “announced the release of a new, all-in-one platform of artificial intelligence (AI) apps to support clinicians with breast cancer detection and improved workflow productivity.