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.
Climate investing platform Raise Green on Tuesday announced a new initiative to provide upstart solar projects with the knowledge, know-how, and intellectual property to hit the ground running. Called the Originator Engine, the software was developed in partnership with IBM to aggregate and "templatize" thousands of documents and contracts necessary to do business.
Circle-K convenience stores are in for a makeover following a new partnership with Standard Cognition to make the customer experience easier with cashierless checkout.
Video app TikTok is waging a legal fight against the Trump Administration’s efforts to ban the popular, Chinese-owned service over national-security concerns.
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.
An appeals court has allowed ride-hailing giants Uber and Lyft to continue treating their drivers as independent contractors in California while an appeal works its way through the court.
President Donald Trump is asking the Supreme Court to allow him to block critics from his personal Twitter account.
Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion.
Bryan Thoensen, TikTok's head of content partnerships, talks newly established creator fund that pays the platforms biggest influencers.
Ardine Williams, VP of workforce development at Amazon, talks about the expansion amid the coronavirus pandemic and recruiting skilled workers.
Tech startup Airspace has developed technology that utilizes a company's camera system to detect whether or not people are wearing face masks. Co-founder and CEO, Jaz Banga, talks about the company's goal of providing data for partners to create safe environments.
