1. iRobot initiates pre-packaged Chapter 11 bankruptcy process in Delaware.
1. iRobot initiates pre-packaged Chapter 11 bankruptcy process in Delaware.
Chapter 11 bankruptcy indicates severe financial distress, reflecting a negative outlook. Historically, similar filings have led to significant drops in stock prices.
Bankruptcy filings typically lead to immediate concern among investors, directly affecting stock price.
Immediate market reaction anticipated due to bankruptcy filing, impacting investor sentiment quickly.