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Fitbit makes for happy faces at the NYSE

Bob Pisani
Aktualisiert
Brendan McDermid | Reuters. It’s been an easy few years to make money. But will the market's winning streak come to an abrupt end?

There are a lot of happy people on the floor of the New York Stock Exchange today. They are Fitbit (NYSE: FIT) employees, which went public today at and has displayed one of the more impressive price surges I have ever seen on its way to an IPO.

The Fitbit price surge:

  • Monday: 29.9 million shares at $14-$16

  • Tuesday: 34.5 million shares at $17-$19

  • Wednesday: 36.6 million shares price at $20

Here's why there's a lot of happy faces down here today: the average insider owns the stock at 37 cents.

That's not a typo. Insiders own the stock at an average price of 37 cents.

Fitbit Metrics:

  • IPO raised: $703.5 million

  • Market cap: $4.1 billion

WERBUNG

That's impressive since GoPro (NASDAQ: GPRO) only raised $427 million for its IPO.

Investors are swooning over the stock because of how quickly they have scaled. Four years ago, the company had $15 million in revenue. In the latest trailing 12 months, revenues have grown to $973.4 million, and they are profitable, with $170.9 million in net income.




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