Fitbit

[vanzandt]

This actually might not be a bad deal with some fun money.
You can buy the Jan 2018 $4 calls right now for $1.74.

Fitbit has no debt, enterprise value of 500M, .65 price/sales... and they have experience working with the FDA and healthcare providers.

AAPL is trying to get into the wearable diabetes monitors.... and they are in the buying mode. Fit looks cheap.

.... ya never know.
I think its a safe roll of the bones.
$5.44 as I type.

 

[Michael J. Fletcher]

It would be really nice if Apple bought 'em out.

 

[Lloyd W. Coutee]

$FIT Let's face it. Overvalued at $50. But no way this should be under $10.

 

[vanzandt]

U.S. charges Virginia man with fraudulent Fitbit stock scheme

NEW YORK (Reuters) – A Virginia man accused of being the architect of a hoax tender offer that drove up the stock price of Fitbit Inc last November has been arrested and charged with fraud, U.S. prosecutors said on Friday.

Robert Walter Murray was accused of submitting a filing last Nov. 9 to the U.S. Securities and Exchange Commission on behalf of a previously unknown Chinese entity, ABM Capital Ltd, and offering to buy all outstanding Fitbit shares at $12.50 each, 46 percent above where they had been trading.

Prosecutors said the share price of the maker of step counters and other wearable devices rose 8 percent, boosting Fitbit’s market value by about $122 million, before the San Francisco-based company denied knowledge of any tender offer.

Murray allegedly spent $997 on Fitbit call options, a bet the share price would rise, just before the filing became public, and made a $2,917 profit by selling them shortly afterward, prosecutors said.

The defendant was charged with securities fraud and wire fraud, and faces up to 20 years in prison on each charge.

It is unclear whether Murray has a lawyer, and a federal public defender is expected to represent him at an initial hearing.

The SEC filed related civil charges against Murray.

Fitbit was not accused of wrongdoing, and did not immediately respond to a request for comment.

 

[victorycountry]

omg...this stock was $50 in 2015 and it's only $5 now...I should have bought yearly put options on this stock in 2015 lol

 

[vanzandt]

......."Murray allegedly spent $997 on Fitbit call options, a bet the share price would rise, just before the filing became public, and made a $2,917 profit by selling them shortly afterward, prosecutors said".

I don't know who's the bigger idiot here. Him or the SEC?
He figures out a way to rob Fort Knox and brings a handbag to the gig.
And the SEC.... hell they should be paying him for exposing their stupidity.
40 years in the clink to boot!
You can't make this stuff up.

 

[Overnight]

......."Murray allegedly spent $997 on Fitbit call options, a bet the share price would rise, just before the filing became public, and made a $2,917 profit by selling them shortly afterward, prosecutors said".

I don't know who's the bigger idiot here. Him or the SEC?
He figures out a way to rob Fort Knox and brings a handbag to the gig.
And the SEC.... hell they should be paying him for exposing their stupidity.
40 years in the clink to boot!
You can't make this stuff up.

There are folks who try to tell me that fraud is rare and unheard of. I laugh in their face. Seriously dudes, wtf. I figure that at this point the fraud-to-legit ratio of financial transactions is 35%/65%.

Yep. Dudes, the world is running on absolute fraud and skullduggery.

 

[vanzandt]

Fitbit is betting big on the Ionic smartwatch

The Ionic is a bit of a Hail Mary pass. The smartwatch represents years of R&D and millions of dollars in acquisitions converging into one product. It’s one the company’s CEO has been talking up months before its official unveiling, pointing to it as a sign that Fitbit has fight left in it, even as the wearable industry continues to contract around it.
https://techcrunch.com/2017/08/28/fitbit-is-betting-big-on-the-ionic-smartwatch/?ncid=mobilenavtrend
They're offering some kind of $7.99/month fitness service too. You know thats gonna flop.

 

[victorycountry]

Fitbit is betting big on the Ionic smartwatch

The Ionic is a bit of a Hail Mary pass. The smartwatch represents years of R&D and millions of dollars in acquisitions converging into one product. It’s one the company’s CEO has been talking up months before its official unveiling, pointing to it as a sign that Fitbit has fight left in it, even as the wearable industry continues to contract around it.
https://techcrunch.com/2017/08/28/fitbit-is-betting-big-on-the-ionic-smartwatch/?ncid=mobilenavtrend
They're offering some kind of $7.99/month fitness service too. You know thats gonna flop.

I am sceptical about their product - smartwatch. I would rather consider buying a smart mirror than smart watch ) The screen is too small and I already use smart phone which shows me the time as well.

imho, they're not going to nail it with that product Unless they bundle smart watch with smart phone ...

 

[vanzandt]

I am sceptical about their product - smartwatch. I would rather consider buying a smart mirror than smart watch ) The screen is too small and I already use smart phone which shows me the time as well.

imho, they're not going to nail it with that product Unless they bundle smart watch with smart phone ...

View attachment 177306

Look at the mighty Fitbit today
$6.50 up 10%
glucose monitor talk