Coffee Sipping Big Board Stocks

[timhyma]

Fitbit Inc (NYSE:FIT), whose shares have declined by 7% on Wednesday, extending the year-to-date losses to around 56%. The main element driving the decline in the stock seems to be the dramatic slowdown seen in sales, which many attribute to a lack of a replacement cycle. However, numerous analysts and investors have contended that the sell-off has been overdone, and that an attractive entry point is open right now, as the stock and the company position themselves for a rebound.

Over the fourth quarter of 2015, shares of Fitbit Inc (NYSE:FIT) lost roughly 21.5%, and several major hedge funds took advantage of the depressed prices to build up their positions. The October-December period saw the number of funds from our database bullish on the stock increase by 35% to 27. One of the newcomers was Philippe Laffont’s Coatue Management, which started a new position comprising 1.51 million shares.
http://www.insidermonkey.com/blog/why-valeant-fitbit-three-other-stocks-are-deep-in-red-today-440416/