Fitbit is trading
at a record low of $US5.46, down another 2.5%, or $US0.14, as of 12:35 p.m. ET.
Fitbit has had a rough go as of late.
Back in November, the company reported disappointing third quarter earnings that showed net income was cut in half. The company also slashed its earnings per share guidance for the crucial holiday quarter to just a quarter of what analysts had been expecting.
That day alone November 3, 2016 Fitbit lost one-third of its value.
Then, on January 30, Fitbit lost another 15% of its market cap when the company reported preliminary fourth quarter results that once again had disappointing guidance.
On top of all that, Fitbit has been accused of stealing trade secrets from its rival, Jawbone.
Fitbit is down more than 25% so far this year. It has lost 88% of its value since it hit an all-time high of $US47.60 in July of 2015. Get Real-Time FIT Charts Here
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