Unsophisticated investors tend to ignore the sorts of competitive factors which will soon overwhelm this stock. Actually I've studied FIT in considerable detail; I even thought of buying one for use exclusively as a pedometer. Unlike almost all here, I can name ten firms that are rushing very similar products to the market. And another ten or so smaller firms from Europe and Asia with little US penetration yet. Most of the 20 are well established tech/fitness names with deep pockets, including Apple which launched its watch in Best Buy a few days ago.
Whether it's $350 Apple watches or $30 electronic pedometers, competition is coming at FIT from all directions. Cheapest of all is the smartphone I already own that supplies a basic, but bulky, pedometer function adequate for my bi-weekly trots around the neighborhood. It will be interesting to see what pedometer upgrades are in the IPhone 6S due out next month, or the 7 next year.
I've heard from several sources that FIT sales spiked enormously due to the IPO publicity.
You are probably right about Christmas sales. FITs should make dandy gifts, perhaps surpassing the IPO week. Then they'll tank amid a tidal wave of competition.
I'm following FIT mainly to assess the nuttiness of the IPO market; I don't flip stocks. Insane IPO valuations often presage market tops. And there's no better place to observe market fads than IHUB.
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