Tag Archives: fit

Fitbit gets investors’ hearts racing with first down day

Fitbit (FIT), the leading maker of wearable fitness trackers, on Wednesday suffered its first down day in trading since going public last week. San Francisco-based Fitbit saw its shares fall nearly 7% in early trading on the stock market today. In afternoon trading, Fitbit stock was down 6%, near 35.50. Fitbit went public on Thursday at 20 and reached an all-time high of 40.45 in intraday trading on Monday. It reached new closing highs in its first four days of trading. Global Equities Research analyst and Silicon Valley provocateur Trip Chowdhry reiterated his bearish views on Fitbit on Wednesday. He said Fitbit is another overhyped IPO destined to fall like Box (BOX), Alibaba (BABA), Groupon (GRPN), GoPro (GPRO) and Zynga (ZNGA). Chowdhry says Fitbit will face stiff competition from low-cost competitors as the category becomes a commodity. Fitbit’s devices are priced at $60 to $250. But Chinese…

Barack Obama might want to switch fitness bands

U.S. amateur golfer-in-chief Barack Obama might want to switch fitness bands. Obama, who also serves as president of the United States, currently wears a Fitbit (FIT) fitness band. But a rival fitness tracker from Microsoft (MSFT), the Microsoft Band, recently added an app for tracking your golf game. Obama, who has played more than 220 rounds of golf as president, could use some help with his game. Basketball great and trash-talker extraordinaire Michael Jordan called Obama “a sh—y golfer” in an interview last fall. “I’d take him out. He’s a hack,” golf enthusiast Jordan said. At best, Obama is believed to be a 17 handicap. Obama’s Fitbit Surge watch tracks heart rate, steps taken, stairs climbed, calories burned, distance and other fitness metrics. It has eight sensors, including GPS, accelerometer, altimeter and heart-rate monitor. It’s made for tracking exercise and workouts, but doesn’t have a golf-specific app. Meanwhile, Microsoft…

IPO Market Sizzles With 14 Planning To Raise $2.5 Bil

In one of the busiest weeks for IPOs this year, 14 companies are planning to come public and raise about $2.5 billion in proceeds. Initial public offerings in June could hit 34, matching the highest total since 2000, according to Renaissance Capital, manager of the IPO exchange traded fund. This past week had seven IPOs, raising $2.3 billion in proceeds. The blockbuster was Fitbit (FIT), the maker of wearable health and fitness trackers.