Shares of Fitness Tracking Gear Maker Fitbit Soared Almost 50% Higher on 1st Day of Trading!

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Shares of Fitness Tracking Gear Maker Fitbit Soared Almost 50% Higher on 1st Day of Trading!

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Fitness tracking gear maker, Fitbit flexed some muscle Thursday and its shares rocketed almost 50 percent higher in the first day of trading for the fitness tracking gear maker.

Fitbit’s initial public offering was priced at $20 per share, bringing in more than $730 million and valuing Fitbit at about $4.1 billion in total. The company had already raised its stock price expectations this week and said the IPO would include additional shares, but the offering still surpassed its estimates.

Source: NBC BayArea

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