Fitbit Stock Takes a Nose Dive After Apple Watch Series 4 Release

According to a report from Barron's Next, Fitbit's shares plunged right after Apple's September 12 event during which Cupertino announced the new Apple Watch Series 4 with ECG and irregular rhythm notification capabilities.

Fitbit Inc is an American company from San Francisco and well-known for its wireless wearable techs such as activity trackers capable of keeping count of the user's number of steps, sleep quality, heart rate, as well as a wide range of personal fitness metrics.

After announcing their own Charge 3 device, Fitbit also unveiled that they are currently working on adding some extra capabilities to their tech among which atrial fibrillation and sleep apnea detection was the most important.

Fitbit told Barron’s Next that "we see the smartwatch category as an opportunity for many companies to be successful.

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