LAS VEGAS — Fitbit (FIT) stock fell hard for a second straight day on Wednesday in the wake of the company’s underwhelming smart fitness watch launch at CES on Tuesday. Fitbit stock dropped 5.8% to 22.90 in the stock market today and hit a record low. On Tuesday, Fitbit plummeted 18.4%. The maker of wearable fitness trackers went public last June at 20. Analysts cite several factors for the fall. They include the disappointing debut of the Fitbit
LAS VEGAS — Wearable device leader Fitbit (FIT) took some veiled shots at the Apple (AAPL) Watch on Tuesday at CES, as it introduced a “smart fitness watch” called the Fitbit Blaze. Fitbit co-founder and CEO James Park said the Fitbit Blaze balances fitness and style and gives users more motivation for meeting their fitness goals through coaching and gamification. “While it may look like a smartwatch, we think we’ve gotten it right,” Park said at
With 2015 being a tough year for initial public offerings, Fitbit (FIT) and Atlassian (TEAM) were lauded by research firm PitchBook in a listing of winners and losers. Square (SQ) and Box (BOX) had the misfortune of being listed among the biggest losers. PitchBook’s listing was based on the valuation of a company at the time of its IPO compared with its previous private valuation. Fitbit topped the list of winners. The maker of wearable fitness