Is my worst investment of the year making a comeback?
Fitbit (FIT) has been my worst investment of the year 2016, by far. The stock is down 75% so far. The reasons for the latest decline were expectations of a bad holiday sales season because of expected supplier problems and delays with deliveries to stores worldwide.
However, today, Fitbit is up more than 7.7% on news that the Fitbit App is leading the Apple AppStore. That would imply fantastic Christmas sales that are currently not priced into the share price.
An opportunity for a rebound? I’m speculating on it, but if you do so too, do so at your own risk and keep in mind our capital management recommendations.
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Fitbit in down trend, but is the end near?