Shares in San Francisco company drop 15% in after-hours trading as company faces increasing competition in the activity-tracking marketIt may succor its users trim their waistlines,but Fitbit is also slimming the wallets of its investors.
Shares in Fitbit, the San Francisco based manufacturer of activity tracking bracelets worn by Barack Obama and Britney Spears, or collapsed 15% in after-hours trading on Monday night after it warned shareholders to expect much slimmer than expected future profits. Continue reading...
Source: theguardian.com