Image source: Fitbit.
Retail sales may be slowing for Fitbit‘s (NYSE: FIT) latest products, but it’s not the end of the world for investors of the leading player in wearable fitness gadgetry. Fitbit stock took a 5% hit on Wednesday after Raymond James analyst Tavis McCourt warned of weak sell-through trends in June.
However, by Thursday it had made most of those gains back. Let’s look at a few of the reasons why the initial fears from McCourt’s report were overblown.