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 race for an exchange-traded fund (ETF) based on bitcoin is heating up despite multiple delays from federal regulators.
A federal judge has dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and a coalition of state attorneys general, dealing a significant blow to attempts by regulators to rein in tech giants.
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.
Danish toymaker Lego has presented its first building bricks made from recycled drinks bottles — an experimental project that if successful could eventually go into production.
John McAfee, the creator of the McAfee antivirus software, has been found dead in his cell in a jail near Barcelona, a government official has told The Associated Press.
After weeks of regulatory crackdowns and public denouncements, the Chinese government has delivered a crushing blow to bitcoin mining in the country.
The Supreme Court has ruled that a Pennsylvania public school wrongly suspended a cheerleader over a vulgar social media post.
Facebook is launching podcasts and live audio streams in the U.S. to compete with emerging rivals.
Three Chinse astronauts have arrived at China's new space station at the start of a three-month mission, marking a milestone in the country's ambitious space program.
New York City-based artist and creative director Jonathan Rosen debuted his first collection of non-fungible tokens (NFT) on the Nasdaq stock exchange's seven-story-tall, curved digital tower.
