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.
Nikil Viswanathan, Co-Founder and CEO of Alchemy, joins Cheddar News' Closing Bell, where he says his company has tripled its business over the past several months and that it will be heavily investing into global expansion following its $200 million funding round.
Swedish electric motorcycle maker Cake says its mission is to inspire society to adopt a zero-emission lifestyle. The company admits this is a lofty goal that covers a lot of ground - so it's starting with the world of urban mobility and last-mile deliveries. The company also has an agreement in place with NorthVolt to continually improve the environmental impact of batteries for electric vehicles. Stefan Ytterborn, Founder & CEO of Cake, joins Cheddar Climate to discuss.
One retailer and publicly-traded company says it is on a mission to inspire a new generation of consumers to think secondhand - first. thredUP is one of the world's largest resale platforms for women's and kids' apparel, shoes, and accessories. The company says it is changing the way consumers shop and ushering in a more sustainable future for the fashion industry. Anthony Marino, President of thredUP, joins Cheddar Climate to discuss.
Apple said Tuesday it is expanding the iPhone's capabilities to accept contactless payments, making it easier for merchants to conduct tap-to-pay transactions without having to buy additional hardware.
