FIT - Fitbit: Boom Times Ahead
The market forecasts are starting to support my investment thesis that Fitbit (FIT) is poised for a period of strong growth. The stock has recently held around $5 in the massive tech-led selloff due to new devices and a cheap valuation. The market potential in smartwatches catering to medical issues is big catalyst for the market and the stock.
Image Source: Fitbit website
Market Research
Gartner forecasts a surge in wearables devices by 2022. Smartwatches are expected to a be a leading source of growth with demand more than doubling from 53 million