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.
The last year saw a massive uptick in CEO turnover, with over 1,200 chief executives leaving their posts in 2021. According to a recent report from Challenger, Gray & Christmas, the main reasons cited were talent management, retention, hiring, and reimagining the workplace post-covid. Andrew Challenger, Senior Vice President, Challenger, Gray & Christmas, Inc. joined Cheddar's Opening Bell to discuss.
As supply chain issues continue to impact holiday shopping, many consumers are discovering that certain items are harder to find and are more expensive than in past years. However, secondary market platforms are one solution to that problem, offering shoppers an alternative place to find their favorite gifts. Jesse Einhorn, StockX senior economist, joined Cheddar to discuss how are platforms like StockX are a viable way for shoppers to avoid supply chain delays this holiday season.
Cockroach Labs Chief Product Officer Nate Stewart joined Wake Up With Cheddar to break down the company's Series F funding and the opportunities for growth it helps open up.
Carlo's joined by a quarantining Baker to discuss the headlines from the weekend as Omicron spreads like wildfire, Manchin kills Biden's signature bill and Spider-Man throws a lifeline to the box office.
