Scalper1 News
Wearable fitness device maker Fitbit ( FIT ) announced Thursday that it shipped more than 1 million units each of its latest products — the Fitbit Blaze smart fitness watch and Fitbit Alta fitness wristband — in their first month of availability. Fitbit stock has been depressed this year in part because investors were disappointed in the company’s products announced since the CES in January. Fitbit went public last June 18 at 20 and climbed as high as 51.90 on Aug. 5. Fitbit stock was up over 6% to above 14 in midday trading on the stock market today . Fitbit’s message on Thursday was that both new products are off to a strong start. The San Francisco-based company said its Blaze sales have exceeded the company’s internal forecasts. Some industry analysts were worried the fitness-centric watch would compare poorly to Apple ‘s ( AAPL ) more capable, yet pricier, Apple Watch. Since its launch, Fitbit Blaze has been the No. 1 best-selling device in the smartwatch and heart-monitor categories on Amazon.com ( AMZN ). Fitbit Alta also is currently one of the top-selling devices in the fitness tracker and pedometer categories on Amazon. “At Fitbit, we continue to focus on developing innovative and motivating fitness-first products that our customers love and that help them achieve their health and fitness goals,” Woody Scal, chief business officer at Fitbit, said in a statement . “The positive response we’ve received to Blaze and Alta demonstrates our continued ability to innovate and drive strong demand for Fitbit products, which is what has made and kept us the leader in the global wearables category.” The Fitbit Blaze costs $199.95. Last week, Apple cut the starting price for its Apple Watch to $299 from $349. The Fitbit Alta costs $129.95. It competes with fitness trackers from Garmin ( GRMN ), Jawbone, Microsoft ( MSFT ) and others. Scalper1 News
Scalper1 News