Fitbit (FIT) Stock Closes Lower After Microsoft Announces New Band
NEW YORK (TheStreet) -- Shares of Fitbit (FIT) fell 4.5% to close at $36.40 on Tuesday after Microsoft (MSFT) announced the new version of its Microsoft Band wearable fitness tracker.
The second generation Microsoft Band is a fitness tracker that packs 11 sensors into a wristband to help users track their fitness. Like Fitbit trackers, the Band can track the number of steps a user takes, the quality of their sleep, and changes in elevation.
The Microsoft Band can also track user's VO2 max, or the maximum volume of oxygen an athlete can use, a statistic that typically requires a lab setting to measure.
In addition to fitness tracking features the Microsoft Band includes Cortana, the software giant's virtual assistant. The device also includes other smart watch features including email, text, and calendar notifications.
Through partnerships with TaylorMade the Microsoft Band can also give users detailed maps about golf courses and help them include their golf game. Partnerships with Lose It and MyFitnessPal give users options for tracking their data, while Starbucks (SBUX) and Uber let users pay for their coffee or rides with the smart device.
The Microsoft Band is available for pre-order now for $249.99, the same prices as the Fitbit Surge, which offers some features that are similar to those found in Microsoft's device.
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