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FIT - Fitbit Not Moving Fast Enough Stock Could Reach All-Time Low
Fitbit Inc. Class A
It was largely a repeat of previous quarters.
On Wednesday, Fitbit (FIT) reported yet another all-around beat, the fifth in a row. Not unlike last time, however, the outlook for the following period failed to excite. This time, guided 2Q19 adjusted net loss per share of -$0.185 million at the mid-point of the range landed a couple of pennies below consensus. As a result, the stock took yet another dive, giving up virtually all its YTD gains by mid-trading session and moving a step closer towards its all-time lows.