Huami (NYSE: $HMI) shares are trading higher on Monday following media reports that the company's smartwatch will be compatible with Tesla (NASDAQ: $TSLA) vehicles.
Huami is a biometric and activity data-driven company. It is engaged in developing, manufacturing, and selling smart wearable devices in the People's Republic of China. It produces its product under the brand name Amazfit. The product portfolio under the brand Amazfit consists of Nexo, Stratos, T-Rex, Bip, Health Watch, and others. It is the sole partner of Xiaomi and designs and manufactures Xiaomi wearable products.
The company manufactures Mi band 1, 2,3, and 4 Mi body fat scale and Mi smart scale for Xiaomi. Its application called Mi fit and Amazfit provides data of biometric, activity data, and analytics to the customers. Its sales are driven by using Xiaomi as a distribution channel.
Huami shares were trading up 14.44% at $13.95 on Monday during the time of publication The stock has a 52-week high of $18.20 and a 52-week low of $8.52.