The Ratings Game: Fitbit stock posts worst day since 2017 amid health-tech debate

Fitbit Inc.’s stock tends to make big swings after earnings, and the reaction to the company’s latest report was no exception.

Shares of the wearables pioneer closed down 13.8% in Thursday trading after the company reported better-than-expected holiday-period results but delivered a weak forecast for the current quarter. It marked the seventh time in the past 10 post-earnings trading sessions in which Fitbit’s stock FIT, -13.83% recorded a double-digit move.

The stock posted its worst single-day decline since January 2017 as analysts debated the progress of Fitbit’s health-tech business.

Wedbush analyst Michael Pachter wrote that the company’s “guidance for continued earnings losses is somewhat disappointing.

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