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iRobot Soars as Market's Short Squeeze Spreads

iRobot joins the exploding club of heavily shorted companies whose shares have skyrocketed since Friday.
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iRobot  (IRBT) - Get iRobot Corporation Report shares soared Monday as the consumer robot-product maker joined the club of heavily shorted companies that have skyrocketed since Friday.

On that day, Andrew Left, managing partner of short-seller Citron, said his firm was abandoning GameStop  (GME) - Get GameStop Corporation Report because of harassment from bulls.

iRobot recently traded at $117.53, up 18.79%, and has doubled over the past year. It already has traded more than 10 times its average daily trading volume on Monday.

Other big shorts that have ascended include Express  (EXPR) - Get Express Inc. Report, up 88% Monday; AMC  (AMC) - Get AMC Entertainment Holdings Inc. Class A Report, up 24%; and Bed Bath and Beyond  (BBBY) - Get Bed Bath & Beyond Inc. Report up 4%.

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IRobot shares have risen for an eighth straight session, the longest advance since early 2019, according to data from Bloomberg.

As for GameStop, TheStreet's Jim Cramer said it was "one of the most amazing short squeezes ... This is one of the wonders of the world."

"If you’re short this stock, you have to ask, am I going to be in business," Cramer said.

Cramer warned the action in GameStop could have repercussions for other popular shorts including Bed Bath and B&G Foods  (BGS) - Get B&G Foods Inc. Report.

Jim Cramer Explains GameStop Short Squeeze