When Will Fitbit Inc. Finally Start Making Money?
Fitbit (NYSE: FIT) has burned many investors over the past two years. Shares of the wearable device maker hit almost $50 in July 2015, but today they're worth less than $6. Fitbit's collapse is mainly attributed to competitors in the wearables market torpedoing its sales growth.
After posting 149% sales growth in 2015, Fitbit's growth slowed to 17% in 2016. Analysts expect its revenue to plunge 26% this year as it cedes market share to aggressive rivals like Xiaomi and Apple (NASDAQ: AAPL).
The Fitbit Blaze. Source: Fitbit.
Source: Fool.com
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