1 Reason to Buy Fitbit Stock, and 1 Reason to Avoid It
Shares of fitness wearables company Fitbit (NYSE: FIT) have staged a mini-comeback over the past few months, jumping on better-than-expected earnings results, the official unveiling of the Ionic smartwatch, and news of a partnership related to glucose monitoring. The stock is still down about 88% from its all-time high, but at least it's been moving in the right direction.
Fitbit stock looks cheap, assuming the company eventually pulls itself out of the gutter. That's the main reason to consider investing in the battered shares. On the flip side, Ionic will face an uphill battle when it launches later this year. Fitbit's turnaround hinges on a successful entry into the smartwatch market, and Ionic becoming a best-seller looks like a long shot to me.
The Fitbit Ionic. Image source: Fitbit.
Source: Fool.com
