• Number of HADE tokens, cryptocurrency, earned with this post 91
  • 365

New Year's Resolutions Good for Fitbit Inc. (NYSE:FIT)


Activity tracker Fitbit is a true survivor. Expecting a growth in revenue, based on the 4th quarter direction, the New Year’s resolution season seems to be the comeback time for Fitbit, Inc (NYSE:FIT).

Once the market leader in wearables, Fitbit has recently struggled with aggressive competition from companies such as Apple Inc. (NASDAQ:APPL). With revenue falling last quarter year-over-year, the company says consumers shifting to the higher-featured devices and smart watches is to blame for the declines.

However, good news for Fitbit, most people make a New Year’s resolution that is centered around improving their health. According to a new ComRes poll, the most common resolution of 2018, at 38%,  is to exercise more. Most of those new to the fitness world will invest in a general, alll-purpose,device that records steps, sleep and heart rate. While Fitbit offers automatic exercise tracking, reminders and silent alarms, after the resolutions “wears off”, many are ready for more high-tech devices, such as those offered by Apple, with all the bells and whistles. As you can see in the chart below, this is when Fitbit  numbers start collapsing. 

With a recent report from U.S. News revealing that 80% of New Year's resolutions fail by the second week of February, Fitbit can only hope this year's resolution-makers actually stick with their new fitness goals. 

Key Stats:

·      Current Stock Price - $5.71

·      Market Capitalization - $1.62

·      Billion Enterprise Value - $965.08 Million