Fitbit: Why Insiders Sold Out Prior To The Holidays
- Fitbit tops the iOS app charts following an apparently blowout holiday sales.
- The stock saw a muted reaction reinforcing the insider sales and highlighting fears of a repeat of the GoPro year.
- The strong ecosystem makes the Fitbit story compelling, but the recommendation remains to wait until the holiday enthusiasm falls off.
My previous investment research highlighted the concerns with insiders rushing to dump shares of Fitbit (NYSE:FIT) prior to the promising holiday season. Activity-tracking devices were expected to be a top holiday gift so why would anybody want to sell shares at the lows following the June IPO?
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