You may remember when we last covered FitBit (FIT), that we discussed why the stock was getting decimated.
We talked about the product cycle and how the outlook was poor.
Well, we have just learned that FitBit is now rolling out two new products, a light smartwatch and its first wearable for children. These new products could reinvigorate the stock.
The Fitbit Versa is aiming at broader appeal than flagship devices, with features similar to its Ionic but with softer colors and a friendlier price point: $199.95. It’s the lightest metal smartwatch in the U.S. market, Fitbit says.
This move comes after a recent foray into the health and wellness sector, with Fitbit being seen as a potential play for healthcare.
Along with that announcement, the company is launching female health tracking features on Fitbit Versa and Ionic, and for Fitbit app users starting in the spring.
Meanwhile, the Fitbit Ace is an activity tracker aimed at children 8 and older that tracks steps, active minutes and sleep and has a showerproof wristband.
Both are available for presale now; the Versa will have global retail availability in April, while the Ace is set for global retail availability in Q2.
Currently, Quad7Capital is eyeing FitBit as a potential add it its Bad Beat Investing portfolio.
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