FIT - 3 Companies That Could Acquire Fitbit
It's an understatement to say 2019 has been a frustrating year for shareholders of Fitbit (NYSE: FIT). Shares briefly rallied at the start of the year on hopes that its first full-featured smartwatch, the Fitbit Ionic, might spur a long-awaited return to sustained, profitable growth. But with its turnaround seemingly failing to materialize and as its subsequent smartwatch offerings faltered, Fitbit stock plunged to fresh multiyear lows last month.
Investors were granted some consolation over the past few days, however, when shares popped as Reuters reported Fitbit has enlisted the help of investment bank Qatalyst to determine whether it should put its business up for sale.
But with Fitbit's market capitalization standing at roughly $1 billion as of this writing, who might be willing to acquire the wearable fitness tech device specialist today?