Mea Culpa here, as I own shares of $FIT.
Fitbit’s third-quarter profit fell 43% from a year ago as it spent heavily to promote its new fitness trackers, and shares plunged on the company’s disappointing outlook for the key holiday quarter.
Fitbit cuts its 2016 EPS view in half to 55c-59c and pares its revenue back as well.
Shares are cratering below all-time lows, taking shares below $9, down a cool 30%. Stick a fork in $FIT, its done.
Wow, what a pounding.
Trade your FIT for FB.
Yep, those numbers were insane bank.