Will Fitbit Stock Become Google Stock?

Is fitbit now owned by Google?


(NYSE: FIT) today announced that it has entered into a definitive agreement to be acquired by Google LLC for $7.35 per share in cash, valuing the company at a fully diluted equity value of approximately $2.1 billion..

Why did fitbit stock go up?

After soaring more than 30% on Monday following a reported acquisition offer by Google parent Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG), shares of Fitbit (NYSE:FIT) climbed another 7.3% Tuesday amid speculation over both the exact price of the offer and other prospective suitors for the wearable device specialist.

Is Apple bigger than Google?

Apple comes second, valued at $309.5 billion, with Google in third place, at $309 billion, according to the BrandZ Top 100 Most Valuable Global Brand ranking 2019, compiled by WPP research agency Kantar and released Tuesday.

Is Google owned by China?

Google ChinaType of siteSearch engineArea servedChinaParentGoogleURLwww.google.cnCurrent statusLimited access; redirects to Google Hong Kong3 more rows

What happens to my Fitbit stock when Google buys it?

The deal values Fitbit around $2.1 billion at a fully diluted equity value, according to Friday’s announcement. Google will pay $7.35 per share in cash for the acquisition, Fitbit said. … On Monday, Fitbit’s stock surged more than 30% on news that Alphabet had made an offer to acquire the smartwatch maker.

Is fitbit a good stock to invest in?

These 4 stocks are the standouts: Fitbit, Inc (FIT – Get Rating), GoPro (GPRO), Nike (NKE – Get Rating) and Peloton (PTON – Get Rating). … Our POWR Rating model shows FIT as “B” rated for Buy.

Why is fitbit stock so low?

Fitbit Inc. shares are plunging in Thursday trading after the wearables pioneer slashed its third-quarter and full-year forecasts, reflecting a disappointing showing for the lower-priced Versa Lite smartwatch, which launched earlier in the year.

Why did Google buy Fitbit?

Google says it is acquiring Fitbit to bring together “the best AI, software and hardware” in order to “spur innovation in wearables and build products to benefit even more people around the world.” It complements Google’s vision for “ambient computing,” as my WIRED colleague Louise Matsakis points out; gives it more …

Is Google owned by Bill Gates?

Back in 2019, Bill Gates disclosed that allowing Google to develop Android before Microsoft could build a competing mobile operating system was his “greatest mistake ever”. Ultimately, the mistake prevented Microsoft from becoming “the leading tech company” instead of “a leading tech company”.

Will fitbit shares go up?

Will Fitbit stock price grow / rise / go up? Yes. The FIT stock price can go up from 7.150 USD to 7.952 USD in one year.

Who owns Google now?

Alphabet Inc.Google/Parent organizations

Why is fitbit struggling?

Fitbit is struggling to compete with the likes of Apple, even though it offers similar products at a lower price point. Shares of the company plummeted as much as 23% Thursday after the company lowered its guidance for the next quarter despite beating analyst expectations of earnings per share and revenue.

Who owns fitbit now?

Alphabet Inc.PendingFitbit/Parent organizations

Will fitbit shareholders get Google stock?

(Photo courtesy Fitbit.) Fitbit’s stock price (NYSE: FIT) nearly doubled in the weeks and days leading up to the Nov. 1, 2019, announcement that the company was to be acquired by Google.

Is fitbit in financial trouble?

Fitbit is also struggling with profitability. … Fitbit’s EBITDA is estimated to rise from -$31.4 million in 2018 to -$10.1 million in 2019, $33.6 million in 2020, and $50.8 million in 2021. Analysts expect Fitbit’s adjusted earnings to improve from -$0.20 in 2018 to -$0.15 in 2019 and -$0.06 in 2020.