E*TRADE Generation Trader: FitBit's Position in Wearable Tech
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.
Plated meal kits are now in Albertsons grocery stores. That means getting its offerings in front of people who want single portions or last-minute meals, says CEO and co-founder Josh Hix, something online subscriptions can't offer.
Elon Musk, CEO of the electric car maker, tweeted that Tesla would be profitable and cash flow positive by the end of the year. Though many investors rejoiced, Gene Munster, Managing Partner at Loup Ventures, thinks it will take Tesla nearly three years to pull off that feat.
James Comey's new book "A Higher Loyalty" officially hits stores on Tuesday, but juicy details are already leaking out. The former FBI Director likens President Trump to a mob boss in the book. Trump criticized Comey on Twitter on Friday, calling him an "untruthful slime ball." Comey will do an interview this Sunday ahead of the book's release.
President Trump issued an executive order late Thursday night calling for a review of the U.S. Postal Service. The president wants a task force to look into the financial troubles facing the USPS. In recent weeks, Trump has criticized Amazon for contributing to the USPS's financial downfall. Even though Trump didn't specifically mention Amazon in the executive order, it's implied that he wants the task force to look into his claims against the tech giant.
And Cheddar CEO Jon Steinberg sits down with two-time NBA all-star Baron Davis to chat about his life as a tech investor. He's the founder of Sports and Lifestyle in Culture, or SLIC, a company that features and promotes original content from athletes.
Facebook CEO Mark Zuckerberg testified on Capitol Hill Tuesday about the massive data scandal at the social media giant. Rep. Diana DeGette (D-CO) shares her reaction, and what she plans to ask Zuckerberg when he speaks to the House of Representatives Wednesday.
During both of Facebook CEO Mark Zuckerberg's testimonies on the Cambridge Analytica scandal, lawmakers hinted at the potential for basing regulation off European laws. But the First Amendment might make that difficult, says the New Yorker's Andrew Marantz.
Facebook CEO Mark Zuckerberg returns to Capitol Hill for a second day of questioning. Today, Zuckerberg testifies before the House Committee on Energy and Commerce. Ahead of the hearing, we spoke to Congressman Debbie Dingell (D-MI) about what she wants to hear from the Facebook CEO. Dingell is concerned about the privacy of Americans who use the social networking site and speculates about what a regulated Facebook would look like.
In other Washington news, House Speaker Paul Ryan (R-WI) announced today that he will not seek re-election this November. Ryan held a press conference to elaborate on his decision. He said he thinks he's done his part and looks forward to spending more time with his family.
Also, Joanna Coles stops by to talk about her new book, "Love Rules." She says her book can help readers find real love in the age of Tinder and Bumble. Coales, who sits on the board of directors for Snap, discusses what it's like to be a woman on the board of a Silicon Valley tech giant.
Approximately 5 million people buy fake tickets every year from unofficial sources. Ticketmaster and the NFL want to combat that problem with a new digital ecosystem, says Greg Economou, Head of Sports for Ticketmaster North America.
The Congresswoman admitted that changes won't come in time for the midterm elections in November. But the question is no longer whether social media be regulated but what that regulation should look like, says Dingell. She says European laws serve as good models. Facebook CEO Mark Zuckerberg faces a House committee Wednesday for a second round of questioning on the Cambridge Analytica scandal.
Congresswoman Diana DeGette, who is on the House committee that will question Mark Zuckerberg tomorrow, says perhaps harsher penalties will force companies to do more before breaches occur.
