Fitbit Inc fka FIT

[bar1080]

"Hedge Funds Will Make A Few Billion Shorting Fitbit"

"Fitbit (NYSE:FIT) is arguably one of the most compelling shorts that I've seen. This short is such a lay-up and Fitbit's stock is so destined to crash that Senator Elizabeth Warren should get ahead of this event, and open up an investigation. I'm half serious here. Better yet, if Bernie Sanders is truly concerned about income inequality, why isn't he attacking private equity and profiteering schemes like Fitbit?

Last night's announcement that the company is selling 21 million shares priced at $37.40, with 14 million of these shares sold by insiders, is the "tell" as they say in poker for hedge funds to purge market of this froth and hype. I love how people demonize and accuse Wall Street executives of greed, yet insiders and private equity firms alike make many multiples of what Jamie Dimon or Lloyd Blankfein will make in FY15. In the case of the banks, like JPMorgan (NYSE:JPM), it employs 236 thousand employees to Fitbit's 727. Again, Fitbit's stock price will end in tears, with a select group of insiders walking away with fortunes. Greater fool theory is alive and well."

http://seekingalpha.com/article/3636256-hedge-funds-will-make-a-few-billion-shorting-fitbit