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.
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.
Cyprus-based Nexters, maker of the mobile game "Hero Wars", has gone public in a deal with Russian media mogul Ivan Tavrin's blank-check company, Kismet Acquisition One.
As consumer wearables gain purchase, the use of wearables in the workplace, a category broadly referred to as enterprise wearables, has struggled to make lift-off.
It took just one tweet from Rihanna to anger the Indian government and supporters of Prime Minister Narendra Modi’s party.
Brian Murphy, ReliaQuest CEO, spoke with Cheddar about what his firm faces in securing Super Bowl LV in Tampa Bay, Florida.
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Super Bowl champion and New Jersey native Victor Cruz recently launched a new fitness program called UNDRAFTED on the Ladder app.
Amazon has revealed plans for the next phase of its headquarters redevelopment in Virginia.
Jeff Bezos announced he is stepping down as CEO of Amazon.
Robinhood CEO Vlad Tenev called for real-time settlement of trades in a letter posted on the trading app's website on Tuesday.
