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Why Fitbit Is Now A Buy

Summary

$FIT has been a bad investment

This may turn around in the next year

Today $FIT reported a EPS of -8c per share bewitching expectations of -15c. Fitbit reported that they had $353 million in revenue. I expect this number to grow next quarter thanks to the next Fitbit smartwatch. Fitbit sold 3.4m units this quarter which I also expect to grow next quarter. Fitbit is also trading around their 52 week low and has a p/e around -8. If they can turn guidance around next quarter and do some clever marketing, this may become a big stock.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.