Discussion in 'Stocks' started by dealmaker, Nov 1, 2018.

  1. dealmaker


  2. trademan1


    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.
    vanzandt and dealmaker like this.
  3. dealmaker


    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
  4. vanzandt


    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.
    Last edited: Nov 1, 2019