Fitbit Stock Has a Lot to Prove on Tuesday
There's good news and bad news as Fitbit (NYSE: FIT) gears up to report fresh financials in a couple of days. The good news is that the stock soared 12% the day after it posted better-than-expected results last time out. The bad news is that Fitbit stock has plunged 18% since that initial post-earnings pop nearly three months ago.
The news is naturally worse for those that have held on to shares of the activity-monitoring wearables maker for longer than just the past few months. Fitbit stock has plummeted 90% since peaking two summers ago, shortly after its hyped-up IPO. It's against this problematic backdrop that Fitbit will serve up its second-quarter results after Tuesday's market close. It's safe to say that there isn't a lot of enthusiasm for Fitbit these days.
Image source: Fitbit.
Source: Fool.com
