Fitbit earnings beat expectations on strength of smartwatch sales Fitbit is slowly righting its financial ship, courtesy of a successful push into smartwatch category. The wearable company reported a profit (when adjusted for items such as stock-based compensation) thanks to growing sales in the new category. (TechCrunch)
The real potential is with insurance and healthcare. When they start making deals with insurance companies (or a buyout), FIT will soar. They have a ton of cash. This was and still is a screaming buy.
Alphabet's Fitbid Google parent Alphabet reportedly made an offer to buy Fitbit, sending the fitness-tracking firm's stock soaring. It rose 18% before trading was halted; after a resumption in trading, it ended the day more than 30% up. Fitbit's market cap is now around $1.5 billion. It's not clear how much Alphabet bid. CNBC
Fitbit's halted again. They have an enterprise value of about $950 Million. (Market cap 1.5 B, but about $600 M in cash.) That's a good deal for Google really, Fitbit makes a good product and they've made inroads with the FDA stuff. Lots of patents. Google's not stupid obviously, they had to see how well Apple is doing with its wearable's and the ecosystem revenues. I've said here all along that someone was gonna buy them. The founder Parke.... he's just stubborn, didn't want to give up his baby. It'll be interesting to see what Google offers per share. A lot of (retail) investors lost a lot of money on this stock. Sad really. Edit: $7.35/share is what Google is paying.