Tag Archives: gadgets

FitBit’s Stock Falls Amid Lawsuits and Low Sales

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FitBit’s bad year just got a whole lot worse.

Amid lawsuits that the heart rate monitor mechanism on the FitBit was giving inaccurate readings, which then threw off other statistics like daily calorie burn, Fitbit‘s stock plunged almost 20% Tuesday February 23, 2021 after the company announced late Monday that sales and earnings for the first quarter would fall short of what analysts’ had projected.

FitBit reported strong holiday sales last year, but investors are growing increasingly concerned that Fitbit is just another flash in the pan fad, likening it to the GoPro, another form of wearable technology that at one point was the must-have camera, but quickly disappointed on Wall Street.

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