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Fitbit: Unlikely Deal Below $10

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Alphabet made an offer to buy Fitbit with no announcement of a finalized deal.
Fitbit is shifting into Premium Service and medical devices, making the stock more appealing.
Fitbit is unlikely to accept a deal for under $10, making an agreement unlikely.
The stock likely trades lower again on a failed deal.
Fitbit (NYSE:FIT) surged Monday on reports that Alphabet (GOOG, GOOGL) is looking to acquire the fitness tracking company in order to get into healthcare wearables. The stock ended up above $5.50 for a 30% gain on the day, but investors have to question whether CEO Park will accept a deal at these prices and whether one even wants a deal below $10, if at all. My previous research has highlighted the reasons the stock has the potential for far more value.
Read the full article on Seeking Alpha. 
More commentary - WhoTrades 
Disclosure: Long FIT. Please review the disclaimer page for more details. 

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