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.
Online wealth advisor Betterment announced Tuesday that it's launching checking and savings accounts with a competitive annual yield of 2.69%.
ELLO Capital will focus on guiding U.S.-focused cannabis, hemp, and ancillary companies through mergers and acquisitions, capital raises and private placements. The company also aims to assist “traditional cpg companies that are looking at how to navigate the CBD or cannabis world,” like Altria, Diageo, and Constellation.
A new co-investment platform for homeownership called Haus has just raised $7.1 million in seed funding. Haus, created by Uber
Co-founder Garrett Camp, says that its system results in 30% lower payments for homeowners than traditional mortgages. Haus CEO Jonathan McNulty joined Cheddar to discuss how his company shares some of the risk for a slice of the reward.
*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.*
These are the headlines you Need 2 Know for Friday, July 19, 2019.
eMarketer reports U.S. esports ad revenues are expected to pass $200 million by 2020. Jimmy Mondal, host of Cheddar Esports, breaks down why it's so important for teams to bring on partners and why a website is crucial to building a fan base.
These are the headlines you Need 2 Know for Thursday, July 18, 2019.
The House Financial Services Committee had more pointed questions for Facebook's David Marcus about the governing structure of the Libra Association in the second day of Congressional grilling.
Netflix had expected to pick up 4.7 million global customers in Q2. Instead it reported gaining 2.8 million. Shares tumbled over 10 percent after hours as the streaming giant reported Q2 earnings.
Facebook's David Marcus faced another day of governmental grilling, this time at the hands of the House Financial Services Committee, over the social media giant's plans for its digital currency Libra.
