Fitbit stock prices plummet after entering smartwatch market

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Shared nosedive, following launch of its new Blaze device at the Consumer Electronics Show on January 5

Fitbit shares dove by 18 per cent after the fitness wearables company launched the Blaze smartwatch at the Consumer Electronics Show (CES) on January 5.

After the announcement was made, the San Francisco-based company’s shares on the New York Stock Exchange plummeted to $24.03, the company’s lowest. By closing on January 5, Fitbit shares stood at $24.27.

The new wearable features a touchscreen similar to the Apple Watches. Alongside tracking calories, steps, sleep and other fitness activities, users can connect their smartphones to receive call and message notifications.

It will be available in the US from March, which prices starting from $200 (around £135). No UK availability or pricing has been confirmed.

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