Fitbit’s Q4 earnings has investors counting their steps toward the exits
Fitbit is important because it helped pioneer the “quantified self” movement that’s still alive and, well, somewhat well. While Fitbit has always been strong in wearables, the world has become far more interested in smartwatches, mainly the Apple Watch. Accordingly, Fitbit announced its first full-fledged smartwatch–the Ionic–last year. The company announced its 2017 fourth quarter and full-year results at the bell today.
First the good news:
Now the bad news:
The report led to a sharp drop in the company’s stock price in after-hours trading; at one point it was down over 15% from a closing price of $5.54.