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.
Though FAANG stocks hit an all-time high last week, their gains could be undermined by the Trump administration's trade stand-off with China that could soon widen into the technology sector, says Jason Ware, chief investment officer at Albion Financial Group.
Trade tensions are heating up again as reports emerge that President Trump is planning to block Chinese investments in U.S. tech companies. Plus, Harley-Davidson announced it will move some of its U.S. production to facilities in Europe in an effort to avoid retaliatory tariffs from the EU.
Celebrity chef Sheldon Simeon joins Cheddar to talk about the opening of his second restaurant in Hawaii this summer. Simeon, a native-born Hawaiian, also weighs in on the devastating volcanic eruptions across Hawaii and urges people to travel to the islands.
The ticketing company plans to add an extra charge for movies that it thinks will be popular. Associate features editor for PCMag.com Rob Marvin joins Cheddar to explain this surge pricing announcement and how MoviePass squares up against the competition.
The live streaming platform most commonly associated with video gaming is branching out into other genres, such as art, based on user feedback. "This interactivity that we have on Twitch actually works with other categories as well," says co-founder Kevin Lin.
The social media platform has been trying to establish itself as a prominent player in social video, but it isn't intimidated by Instagram's new video product IGTV. That's because Twitter is the platform users turn to for live world news, says that company's vice president and global head of content partnerships Kay Madati.
Tesla is making big cuts to its solar business. According to a Reuters report, the company will close 12 solar installation facilities across several states. Tesla bought SolarCity more than two years ago for $2.6 billion.
Chipotle is giving its menu a makeover. The company is experimenting with five new menu items at its test kitchen in New York, including quesadillas, nachos, and chocolate milkshakes. Chipotle plans to roll out these items nationwide in the coming months.
Paul Boyer, a.k.a. sOAZ, the former starting top laner for Team FNATIC, was sidelined with a hand injury during the Spring Split season of the esport League of Legends. But now he's back in action and ready for the Summer Split.
Cryptocurrency is drawing even more interest from retail investors on the Robinhood stock trading app than Snap did in its IPO. The digital coins' popularity is helping users move onto more institutional product offerings, says Robinhood's co-CEO Vlad Tenev.
Tesla's lawsuit against ex-employee Martin Tripp comes at a time when the company is under pressure to meet its production targets for the Model 3. Missing internal goals again "would be awful," says Brian Deagon, senior reporter at Investor's Business Daily.
In this week's episode of The Crypto Craze, Cheddar's Nora Ali and Brad Smith discuss the biggest stories from the crypto world. Payments company Square secured a BitLicense from New York, which will allow New York residents to trade bitcoin through the Cash App.
Vlad Tenev, CEO of stock trading app Robinhood, sits down with Cheddar reporter Tanaya Macheel. He talks about the future plans for the company which currently has around 4 million active users.
