Fitbit Slashes Expectations For Q4, Year Ahead; Shifts To Smartwatches

Wearable fitness device maker Fitbit (FIT) called in sick on Monday, revealing worse-than-expected fourth-quarter sales, a surprise loss and a round of layoffs to cut costs.

Fitbit stock tumbled to an all-time low of 6.17 on the stock market today. In morning trading, Fitbit stock was down 13%, near 6.30.

The San Francisco-based company said it expects Q4 sales of $572 million to $580 million, compared with its previously announced guidance range of $725 million to $750 million.

Fitbit...

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