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.
StreetCred, launching in New York, crowdsources location data and incentivizes users to submit information with Bitcoin. The location data that Google, Apple, and others own is prohibitively expensive for entrepreneurs to buy, said StreetCred CEO Randy Meech, who hopes his company can change that.
The GM brand is concerned with the long-term effects of tariffs, said president Steve Carlisle. As Caddy launches a new crossover, the XT4, the Chinese market will play a pivotal role in whether the iconic American nameplate can take market share from BMW and Lexus.
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Imran Khan, one of the highest paid executives at Snap, is leaving, reportedly to start a tech investment firm. Khan was deeply involved in bringing the company public last year.
The co-founder of the Chinese e-commerce giant on Monday laid out plans for after his retirement, saying current CEO Daniel Zhang would take over as Executive Chairman. Ma meanwhile will focus on education charities once he steps down.
MasterClass just raised $80 million in funding, which CEO David Rogier said he will use to get more high-profile instructors into its stable. The company already counts offerings from instructors like Judd Apatow, Gordon Ramsey, Steph Curry, among others.
Jed McCaleb, the co-founder of the Stellar Development Foundation, told Cheddar how blockchain technology can revolutionize how digital payments are tracked and secured.
Tesla's worries are no longer limited to the erratic behavior of Elon Musk. Stanphyl Capital's Mark Spiegel, a vocal short seller of the stock, said that Tesla is about to be overcome with competition from Mercedes, Jaguar, and Audi.
Christopher Mims, technology columnist for the Wall Street Journal, said that Apple is staking a "third act" on its wearables and accessories business, which includes the Apple Watch and AirPods.
Tesla shares dropped Friday after a slew of bad headlines. Elon Musk smoked a joint and drank whiskey in an interview with Joe Rogan, Tesla's chief accounting officer Dave Morton resigned after just a month on the job, and Tesla HR boss Gaby Toledano decided to not return to the company after taking a leave of absence last month. Plus, we're joined by Daymond John, entrepreneur and 'Shark Tank' star, to hear about his keys to building a successful career.
