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Why Fitbit Stock Soared Today

TheMotleyFool

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Shares of Fitbit (NYSE: FIT) were up 15.7% as of 3:30 p.m. EDT Friday after Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) Google finally agreed to acquire the wearable fitness device specialist.

More specifically, Google will pay $7.35 per share in cash for Fitbit, marking a roughly 19% premium from yesterday's close and valuing the company at a whopping $2.1 billion.

IMAGE SOURCE: GETTY IMAGES.

Source Fool.com

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