Can Fitbit Inc. Regain Its Mojo?
Back in Sep. 2015, I predicted that Fitbit (NYSE: FIT) would drop from the $30s back to its IPO price of $20. That happened just a few months later, but the stock subsequently dropped another 70% to just over $5.
That stunning decline was caused by its slowing sales growth, deteriorating margins, and the rapid saturation of the wearables market. The liquidation of its old adversary Jawbone also portends dark days ahead for Fitbit and the fitness tracker market.
Fitbit Blaze. Source: Fitbit.
Source: Fool.com