E*TRADE Generation Trader: FitBit's Position in Wearable Tech
FitBit is a pioneer in wearable technology. But the company has recently shifted its strategy amid competition from the Apple Watch, and as the wearable market has failed to really see mass adoption. Cheddar's Hope King and Brad Smith explore the company's performance using E*Trade's innovative platform.
Adult wearable technology users in the U.S. is expected to grow nearly 12 percent this year, according to eMarketer. In a survey conducted by Cheddar, 18 percent said they own a FitBit compared to 27 percent who've said they own an Apple Watch. 47 percent of those surveyed by Cheddar say they don't wear any wearable technology.
FitBit has had an up and down year, with shares ranging between $5 and $7 a share. Overall, shares are down 17 percent over the course of the past year. The company did introduce its first smartwatch in 2017, and is looking to directly compete against the Apple Watch at a similar price point. Shares also hit a 52-week high in December during the holiday shopping season.
FitBit reports fourth quarter earnings after the Closing Bell Monday. Analysts expect revenue of nearly $590 Million, and to break even in profit.
Between Bells EP Conor White recaps some of the biggest stories of the week, while Baker Machado and Hena Doba test their knowledge, and maybe learn a thing or two. It's This Week in Trivia!
U.S. regulators are sounding the alarms about the meme stock mania fueled by retail investors. FINRA, the regulator for all brokerage firms and exchanges in the U.S. is warning that retail traders could easily get in over their heads due to their lack of knowledge about complex investments like options, ETF's and structured notes. Thomas Gorman, Attorney, Dorsey Whitney & former Securities Exchange Commission Regulator joined Cheddar's Opening Bell to discuss how regulators and trading platforms can crack down on retail investors.
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