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Check out fitbit...stock price at 52 week low...but they show great promise...their smart watch versa sold more than a million in the first 6 weeks. Outsold garmin, fossil and Samsung combined last quarter..and their new charge 3 tracker watch (came in the market just now after 2 years as the upgraded version of charge 2)...has sold even ore than versa during pre-order only.....check the tweet by the CEO - James park where he says Charge 3 selling even more than Versa. This company will likely double or triple by the end of 2019 or 2020....you know how crazy people are these days about ..smart watch....and fitbit is in the right industry...at the right price..they have more than 500 million in cash with no debt...CEO/CTO combined..own the company ...CEO was saying the company will be in growth mode again in 2019.....and if they grow again..wall street will reward them with higher stock price.......fitbit doesn't have to work hard to sell smart watches..these days ..people want to own smart watch...coz it's a cool thing to do...for too many people out there...
So, fitbit got 2 things going....
1. Smart watch for the general smart watch crowd..and Versa did very well...their smart watch is around 50 per cent of total revenue ...
2. Tracker for health conscious people. Now Fitbit has done some deal with health insurance companies like Humana (With 5 million clients) and Blue Cross Blue Shield (with 60 million clients)...and United Health and also with the company ..weight watchers...
these insurance companies are giving their clients or people working at big corporations who are enrolled with these health insurance providers...so the insurance companies are giving people money back...or discount...if they do what insurance companies tell them to do ..to improve their health...the more people improve their health, the fit they become and the more fit they become, the less they visit doctors...the less they visit doctors, the more money insurance companies save on medical cost....and these insurance companies are giving FITBIT and other trackers to these people...and once they use fitbit trackers...they will be following fitbit way of life.....where they are challenged to lose weight, walk thousand of steps etc....overall idea is to keep them fit...and keep them away from doctors...and hospitals...
overall..fitbit is in good position..in both smart watch (fashion) side and health tracker (as a medical device company)......so perhaps..good days are ahead for fitbit... I'm in with some shares.