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.
Facebook plans to finally unveil its Portal video chat device for the home next week, Cheddar has learned. The device will function similarly to an Amazon Echo Show with social features and come in two screen sizes, according to people familiar the matter. The wide-angle video camera will use artificial intelligence to recognize people in the frame and follow them as they move throughout a room.
Amazon will get a lot more than 3,000 brick-and-mortar stores when it builds out its cashierless Amazon Go chain.
The tech giant announced a slew of new products and software for Alexa-enabled homes, betting that the voice assistant becomes the entryway into the company's ecosystem for many households. Among the new Echo devices: a microwave, a wall clock, and the Echo Auto.
Thursday's IPO, with shares priced at $23 near the high end of its range, implied a valuation of nearly $1.8 billion. By midday, the stock was trading over $37. Julia Hartz, Eventbrite CEO, said the company's relentless focus on the "mid-market" protects it from competition from Ticketmaster or Facebook.
What does crypto have to do with journalism? Civil Media thinks it can be the answer to some of the field's woes, from eroding trust to a collapsing business model. As CEO Matthew Iles explained, the start-up's token sale can help build an infrastructure that will serve as a new economy for newsrooms.
Eventbrite, the online "do-it-yourself" ticketing agency, went public on the NYSE Thursday with shares priced at $23. By midday though, the stock, trading under the ticker EB, was at $37. The company's Chief Brand Officer Brian Irving joined Cheddar to discuss the debut.
The one-time Beatle is back at #1, and he didn't do it solely by selling albums. Austin Powell, managing editor at The Daily Dot, explains how McCartney was able to use the new music economy dominated by Spotify and Apple Music to his advantage.
The difference between the wild valuations and stock moves in the nascent pot industry and those of the turn-of-the-century dot-com stocks (Pets.com, anyone?) is that cannabis "is a market that actually exists," said financier Terry Taouss of cannabis financing company Tidal Royalty.
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Naz Aletaha, head of esports partnerships for Riot Games, said that the "priceless" experiences with new global sponsor Mastercard will start with the world championships in October, offering premium content and behind the scenes access to the biggest event for esports lovers.
