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