How Fitbit Makes Most Of Its Money
Fitbit Inc. (NYSE:FIT) stormed onto the public markets in 2015 just as enthusiasm was building for smartwatches and connected fitness devices.
But instead of bulking up investors' portfolios, as many had hoped, Fitbit stock has proven to be nothing but a couch potato. Today, shares of the fitness-tracking specialist are trading just north of $5, a more-than-80% drop from its IPO price of $30.40, and a far cry from its all-time high of $47.60 in July 2015.
But instead of bulking up investors' portfolios, as many had hoped, Fitbit stock has proven to be nothing but a couch potato. Today, shares of the fitness-tracking specialist are trading just north of $5, a more-than-80% drop from its IPO price of $30.40, and a far cry from its all-time high of $47.60 in July 2015.