Release

Today’s Research Reports on Stocks to Watch: Fitbit and GoPro

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Fitbit sank to a new low on Friday despite no remarkable news but the stock has been facing the aftermath of a bad first quarter report. GoPro shares also continued to sink on Friday after days of losses.  

RDI Initiates Coverage on:

Fitbit, Inc.
https://ub.rdinvesting.com/news/?ticker=FIT

GoPro, Inc.
https://ub.rdinvesting.com/news/?ticker=GPRO

Fitbit, Inc. shares closed down a modest 0.98% on Friday but managed to hit a new 52-week low of $4.99 during intra-day trading. Things haven’t been looking too great for the wearable watch company as its stock has now fallen over 62% in the last year. The International Data Corporation (IDC) recently published its report for the worldwide wearables market for the quarter ended March 31, 2017 and revealed that Fitbit’s shipments fell 37.7% in 1Q17 to 3.0 million units. This is from 4.9 million units in 1Q16. Market share also dropped from 23.2% in 1Q16 to 12.3% in 1Q17. Ramon Llamas, IDC’s research manager, stated, “Fitbit finds itself in the midst of a transformation as user tastes evolve from fitness bands to watches and other products. This allowed Xiaomi to throttle up on its inexpensive devices within the China market and for Apple to leverage its position as the leading smartwatch provider worldwide.” He went on to say, “However, by no means should Fitbit be removed from the wearables conversation. With a user base of 50 million, a strong presence within corporate wellness, and assets that keep it top of mind for digital health, Fitbit is well positioned to move into new segments and markets.”

Access RDI’s Fitbit Research Report at:
https://ub.rdinvesting.com/news/?ticker=FIT

GoPro, Inc. shares closed down 3.72% on Friday at $7.77. Shares also fell lower on Thursday too after the Federal Reserve raised interest rates on Wednesday. The stock is now down over 10% since 2017 started and has sank four days in a row. There has been no remarkable news aside from the Fed’s interest hike on Wednesday to explain the move down for the camera maker. Many investors are eagerly waiting for GoPro’s Hero6 to be released which is scheduled for some time later this year. According to The Tech Bulletin, the company’s founder Nick Woodman reportedly confirmed that the new Hero6 is just one of other new GoPro cameras that will be released in 2017.

Access RDI’s GoPro Research Report at:
https://ub.rdinvesting.com/news/?ticker=GPRO

Our Actionable Research on Fitbit, Inc. (NYSE: FIT) and GoPro, Inc. (NASDAQ: GPRO) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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