Fitbit Takes 18% Stock Hit For Invading Apple’s Personal Smartwatch Space

By Matthew Lynley

So much for the Christmas bump for Fitbit shares.
After seeing a huge boost following Christmas — when the app topped the App Store, indicating that the device seemed to be a popular gift — Fitbit shares tumbled more than 18% in trading today. Previously, Fitbit had gained 38% on the year after going public in 2015, and bumped an extra 5% after topping the App Store.
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Source:: TechCrunch Gadgets