Image Source: www.fitbit.com
In Fitbit‘s (NYSE: FIT) most recent earnings call CFO, William Zerella, said that Fitbit’s newest product, the Flex 2, “has supply constraints, which we expect will result in approximately $50 million of unfilled demand.” This comment, and lower than expected fourth-quarter guidance, caused Fitbit stock to drop a third off its already depressed price. Currently the stock is close to its all time low, down over 70% this calendar year.