Sales for fitbits, aka fitness-tracking wristbands, continue to surge in the latest quarter. Fitbit’s newest products, the Blaze & Alta trackers, accounted for 54% of sales in the recent quarter.
Chief Executive James Park also notes that the company plans to announce new products this holiday season. Shares were up 6% in the after-hours session.
This is a name I own in both my trading account as well as IRA. Even with the move to $14, it still remains one of my top picks. What people fail to realize here is how good the software is for the fitness community. Many have tried, and all have failed, but fitbit. They will not stay independent.
Here is a note I left inside our trading room late last week:
