FIT

Fitbit Inc - Ordinary Shares - Class A

Consumer, TMT


Presented:01/14/2020
Price:$6.58
Cap:$1.74B
Current Price:$6.93
Cap:$1.90B

Presented

Date01/14/2020
Price$6.58
Market Cap$1.74B
Ent Value$0.60B
P/E RatioN/A
Book Value$2.27
Div Yield0%
Shares O/S264.98M
Ave Daily Vol15,504,160
Short Int30.41%

Current

Price$6.93
Market Cap$1.90B
Fitbit, Inc. engages in the development of wearable device which tracks data of an individual's health. It offers wrist-based and clippable devices, which can track daily steps, calories burned, distance traveled, and active minutes, and display real-time feedback to encourage users to become more active in their daily lives. The company was founded by Eric N. Friedman and James Park in March 2007 and is headquartered in San Francisco, CA.

Publicly traded companies mentioned herein: Alphabet Inc (GOOG), Fitbit Inc (FIT)

Highlights

The presenter is short shares of Fitbit (FIT) thinking it is unlikely the US Department of Justice (DOJ) will allow Google to acquire Fitbit due to data privacy concerns. In November 2019, Google announced it would acquire Fitbit for $7.35 per share in cash, a significant premium to Fitbit’s $3 - $4 share price prior to the deal announcement. Shares currently trade at ~$6.50, so he views his risk as limited to ~$0.85 on the short side.

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Idea Discussion

Commentor 1 - 2 weeks ago

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