The meteoric rise and epic fall of fitness tracker maker Fitbit (NYSE:FIT) occurred in less than two years. Fitbit went public in June 2015 at $20 per share, surged to nearly $50 the following month, then plummeted to about $6 today.
Investors might recall the bullet points in that story: demand initially surged as the public embraced fitness tracking devices and apps, but the market was quickly saturated with cheaper devices that crushed Fitbit’s top and bottom line growth. However, investors might not know these six lesser-known facts about the company.
