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Fitbit stock sinks after company warns shareholders over profits

Discussion in 'Market News' started by Lily, Feb 23, 2016.

  1. Lily

    Lily Forum Member

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    Shares in San Francisco company drop 15% in after-hours trading as company faces increasing competition in the activity-tracking market

    It may help its users trim their waistlines, but Fitbit is also slimming the wallets of its investors.

    Shares in Fitbit, the San Francisco based manufacturer of activity tracking bracelets worn by Barack Obama and Britney Spears, collapsed 15% in after-hours trading on Monday night after it warned shareholders to expect much slimmer than expected future profits.

    Related: Modern tribes: the Fitbit wearer

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