Interesting part here is:
"...the acquisition is a “small amount” but there’s no word on exactly how much, or indeed how little. Further, The Information said that the deal will see Pebble and its products closed down over time..."
>Fitbit, too, has experienced its own challenges. The company priced its shares at $50 a go when it listed on the New York Stock Exchange in 2015, but today it is trading at $8.40. That depression is largely down to less-than-impressive financial results.
It seems like the values atributed to these companies/assets are random numbers.
I can understand that in technology related companies even a strong appreciation (or depreciation) is possible in a short period of time, but there must have been some initial overestimation in these cases.
I wonder if Fitbit will keep the platform going, or if it will just be abandoned.
Not a good look, and with this news I wouldn't expect stock to ever re-appear.
For that very decision - shutting down the product line - fuck you, FitBit, and fuck the horse you ride on.
And you'd better make sure those last Kickstarter rewards are shipping out soon.