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.
Congress has created a new requirement for automakers: Find a high-tech way to keep drunken people from driving cars.
The Democrat and former police officer has since doubled down on his plans to make New York a crypto hub along the lines of Miami,
Britain’s Prince Harry has sharply attacked the failure of social media companies to challenge hate online, revealing that he warned the chief executive of Twitter ahead of the Jan. 6 Capitol riots that the site was being used to stage political unrest.
Robinhood said Monday that it suffered a security breach last week where hackers accessed some personal information for roughly 7 million users and demanded a ransom payment.
Tesla shares slumped more than 4% in premarket trading on Monday after its CEO Elon Musk said he would sell 10% of his holdings in the electric car maker based on the results of a poll he conducted on Twitter over the weekend.
WarnerMedia posted solid quarterly results with revenue surpassing $8 billion as its entertainment business continues to boom. The media and entertainment giant saw wild success with its HBO Max division, which reached nearly 70 million subscribers globally. To discuss the company's strategy for success, Cheddar senior reporter Michelle Castillo spoke to WarnerMedia CFO Jennifer Biry.
Inspired by the framework of the Paris Climate agreement, the Crypto Climate Accord (CCA) is just one industry effort to spread the message that crypto should rise to the challenge.
Facebook said it will shut down its face-recognition system and delete faceprints of more than 1 billion people.
The first person to fly across New Zealand’s Cook Strait in an electric plane says he did so with plenty of battery power to spare.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
