FIRST AIRED: June 2, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
health craze reaches the new york stock exchange fitbit surge does much as sixty percent of its market debut thursday but settled just under its opening bid of thirty dollars a share still a mere fifty percent gain for the session it was a solid first day showing for the maker of wearable fitness tracking devices after the biggest tech initial public offering this year e. seven hundred thirty one million dollar i feel so strongly than expected demand pricing above the expected range even after the company boosted the amount of shares available for sale investors couldn't wait to get their hands on the stock given the company's domination over rivals like jawbone garment and missed it there is some concern though about competition the apple watch which recently lost has a lot of fitness related features and apple has a track record of , always be , first in , category but quickly rising , come the gold standard fitbit has a head start selling nearly twenty one million devices as of march thirty first a successful market debut will certainly give the company and the stock more visibility , and greater competition and scrutiny is likely to come as well