Authorization

Fitbit's 2-day surge hits 19% on reports the company is seeking a sale a?? and its bankers are eyeing a Google takeover (FIT)

Fitbit's 2-day surge hits 19% on reports the company is seeking a sale a?? and its bankers are eyeing a Google takeover (FIT)
Reuters



Fitbit's stock continued a two-day surge on Monday following a Reuters report that it's been mulling acquisition possibilities with investment bank Qatalyst Partners for several week.




The stock jumped 12% on Friday, and climbed 7% at one point on Monday. That brings its two-day increase to as much as 19%.




The bank argued Fitbit could attract interest from Google-parent Alphabet, which doesn't have a smartwatch product like other tech giants.




Fitbit has struggled to hold much of the smartwatch market as Apple and Samsung have dominated the sector.




Watch Fitbit trade live here.




Fitbit surged as much as 7% in early Monday trading after reports the company is exploring a sale drove shares 12% higher on Friday. The stock has climbed as much as 19% over the two days, and currently sits near its highest levels since late July.
The smartwatch maker has been discussing possible acquisition plans with investment bank Qatalyst Partners, Reuters reported Friday. Qatalyst has reportedly encouraged a sale for weeks and argued the company could attract a bid from Google-parent Alphabet.
Google was set to unveil a smartwatch as early as 2016 but scrapped the plans at the last minute, allowing competitors like Apple and Samsung to move into the segment.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Декабрь 2019    »
ПнВтСрЧтПтСбВс
 1
2345678
9101112131415
16171819202122
23242526272829
3031