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.
Atari, the popular French gaming company, is now open to investments from U.S. investors through its new affiliation with with Nasdaq International. Frederic Chesnais, CEO of Atari, told Cheddar about the partnership.
Loren Padelford, Shopify vice president and general manager, had spent Wednesday morning monitoring the cannabis transactions taking place on Canadian Shopify-powered sites and said the demand was outpacing even his company's bullish forecasts.
Canada legalized recreational marijuana use on Wednesday, making it the second country to do so. Netflix stock is surging after the streaming giant added a record number of subscribers in the third quarter. Plus, Anthony Atamanuik and Adam Pally from Comedy Central's 'The President Show' join Cheddar to talk about their new special 'The Fall Of Donald Trump.'
Auction house Christie's will put up its first-ever painting created entirely by artificial intelligence. Lindsay Griffith, a specialist at Christie's, said the painting is likely to fetch as much as $10,000.
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Alexis Ohanian, co-founder of Reddit and venture capital firm Initialized Capital, has partnered with 1850 Brand Coffee for the "Bold Pioneer" content where people pitch their ideas to win $18,500 to jump-start their business plan. Ohanian said he's looking for entrepreneurs who are thinking outside the box and making investors "a little uncomfortable."
The video streaming service added nearly 7 million subscribers in the third quarter, far better than forecast, and said it would add nearly another 10 million to round out the year.
A day after it launched as one of two official electric scooter providers in San Francisco, Skip CEO Sanjay Dastoor said the operation has been a smooth ride so far. Dastoor told Cheddar Tuesday the company has seen a "really positive, really happy response, not just from the riders, but from the city and from the non-riders as well.”
VRt Ventures, a virtual reality studio, has partnered with street artist Shepard Fairey for a first-of-its-kind VR application. As Fairey and VRt CEO Jacob Koo explain, a newly launched app allows users to experience Fairey's latest exhibition up close, the way they would at a gallery.
Paperspace wants to make artificial intelligence more accessible, according to its co-founder and CEO Dillon Erb. Erb told Cheddar Tuesday that artificial intelligence is still so new and complex that mainstream companies find the tech difficult to harness.
