$FIT is active again amongst traders as the stock continues to teeter on the all important $5 threshold. In my opinion, if we breakdown below $5, we may see a $3 handle on this stock which will put this thing trading right at cash.
Apple’s iWatch is gaining momentum and superior to the fitbit on just about every level, except their active software. Fitbit is extremely easy to integrate in third party apps, which makes fitbit extremely useful on the corporate wellness side of things. Apple will eventually catch up, they are not there yet.
If I’m Samsung or Under Armour for that matter, I would find $FIT very attractive on a further decline. If Apple would somehow make a bid for $FIT, which also makes perfect sense to me, they would own the wearable fitness tracking market.
With many insurance companies getting on board, and more wearables on the market today, software becomes important. However, in the interim the question becomes: how ugly will it get before someone steps in? $FIT needs to hold the $5 level here.