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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