Amazon error mistakingly sank Fitbit’s stock by 7%
Some stories are hard to believe: After Fitbit’s number 1 position in Apple’s AppStore send the stock 7% higher, Amazon released it’s holiday sales and erroneously listed Garmin as the number 1 selling wearables maker. Later it acknowledged that it had made a mistake and forgotten about Fitbit in its entire ranking.
Following the initial announcement by Amazon, however, an analyst had come out and declared the stock a “hold” due to the failure to sell well on Amazon and later corrected the statement after the stock had already sunk 7%, without changing his “hold” rating.
What a mess.
Meanwhile Fitbit’s stock is on a tear upward following news that 70 million people in the US can now get up to $1,500 per year in healthcare benefits by wearing a Fitbit Charge 2.
Fitbit LogoSource: Fitbit