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Shares of FitBit (FIT) have been dead money virtually since the IPO In 2015. Despite all the positive feeling investors have about the product and/or its health benefits, the company simply hasn’t delivered for investors.
While the reasons for FIT’s struggles are numerous, some stick out more than others.
First, the company has left investor's money sitting in the Cash & Equivalents line of the company's balance sheet. Despite a low rate environment & quickly evolving wearables market, FIT has decided to let cash sit on the balance sheet as if the company