Can Fitbit Keep Going After Last Week's 10% Pop?
Fitbit (NYSE: FIT) is rewarding shareholders for a change. Shares of the wearable fitness leader rose 10.3% last week, moving higher after the company announced the retail availability of its long-awaited smartwatch. Fitbit was also accepted into a pilot Food and Drug Administration program that could help it speed up the development of digital health products.
Fitbit stock closed out September with a 15% gain, and that's on top of a double-digit pop in August. This is the first time in more than a year that Fitbit shares have moved higher in back-to-back months, soaring 34% higher over the past two months. Fitbit stock has a long way to go to return to its post-IPO highs, but recent investors are cashing in on the stock's resurgence.
Image source: Fitbit.
Source: Fool.com
