Fitness Tracker Fitbit Has Healthy Debut On Wall Street

fitbit surge, fitness tracker, wearable device
Photo credit: Fitbit

SAN FRANCISCO, CA — Tracking fitness is not only trendy but profitable as the wearable device leader Fitbit burst onto Wall Street with a healthy debut.

Trading under the symbol “FIT,” the company offered 36,575,000 shares of its Class A common stock in its New York Stock Exchange opening. According to the Wall Street Journal, shares for its initial public offering (IPO) jumped to $30.40, 52% above its expected¬† price of $20.

Founded in 2007 Fitbit, which sells a variety of activity trackers and wristbands and the Fitbit Aria Wi-Fi Smart Scale, has a number of high-profile admirers including President Barack Obama who was spotted wearing the Fitbit Surge in March of this year.

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