Why Fitbit Stock Popped (Again) Today
After soaring more than 30% on Monday following a reported acquisition offer by Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), shares of Fitbit (NYSE: FIT) climbed another 7.3% Tuesday amid speculation over both the exact price of the offer and other prospective suitors for the wearable device specialist.
For perspective, yesterday's pop came after Reuters first broke the news of Alphabet's bid, citing "people familiar with the matter." But the report also cautioned there's no guarantee a deal will be reached, noting "the exact price that Google has offered for Fitbit could not be learned."
Considering Fitbit didn't immediately confirm as much, this left investors to wonder whether the company was negotiating for an even juicier acquisition premium.
Source Fool.com
