What's happening with Fitbit stock?
Answer (1 of 2): If you do nothing, then when the sale closes the shares will be removed from your brokerage account and you’ll get cash instead. This will be $7.35 per share you own. This is probably the right way to go if you don’t have anything …
Did Google buy Fitbit for $2 billion?
Jan 15, 2021 · Because Fitbit stock is now untradeable, it will automatically convert to cash. Consequently, Fitbit stock will be removed from your brokerage account. You can decide whether to use the cash to buy...
Will Fitbit stock convert to Google or alphabet stock?
As for the stock owner, your shares will either be converted to fair amount of Google that correlates your shares of Fitbit or. Continue Reading. Generally speaking, when a Company (A) is bought by a Company (B), Company (A)’s stock will rise because it is being paid a premium for the acquisition to take place.
Is Fitbit set to go bankrupt?
For shareholders of Fitbit (FIT), we wanted to provide an update on your holdings. Fitbit has been acquired by Google. As a result, FIT was delisted from the New York Stock Exchange prior to the market opening on 1/14/2021. Shareholders of Fitbit will receive $7.35 cash for every FIT share held. Fractional shareholders will receive cash proportional to their holdings of FIT at the time …
What happens to Fitbit stock after buyout?
As for the stock owner, your shares will either be converted to fair amount of Google that correlates your shares of Fitbit or your account will show the shares disappear and they will be replace by the cash value of your shares.
Can you still buy Fitbit stock?
Fitbit stock can be bought through any reputable broker with access to trade stocks listed on the New York Stock Exchange (NYSE). If your objective is to buy FIT as an investment and hold the stock in a trading account for long term capital appreciation, then you could open an account with a discount broker.May 12, 2021
Who owns Fitbit stock?
GoogleGoogle now owns Fitbit | Engadget.Jan 14, 2021
Does Fitbit have a stock symbol?
Fitbit Inc (FIT)Jan 14, 2021
What is the price of Fitbit stock?
Performance OutlookPrevious Close5.34Day's Range5.34 - 5.9852 Week Range5.12 - 6.36Volume1,106Avg. Volume1673 more rows
Is Fitbit no longer a Stock?
Fitbit stock is now untradeable. ... 2019, Fitbit announced that Google would acquire it. Google agreed to purchase Fitbit for $7.35 per share, valuing the fitness specialist at $2.1 billion.Jan 15, 2021
Has Google taken over Fitbit?
Google has closed its deal to buy Fitbit, the tech giant announced Thursday. The company announced in November 2019 plans to acquire the fitness tracking company to bolster its wearable capabilities. Google said it would acquire Fitbit for $7.25 per share in cash, valuing the company at $2.1 billion.
Does Google own Fitbit yet?
Google has completed its $2.1 billion acquisition of Fitbit, the company announced today. The news follows the EU's announcement late last year that it had approved the deal, after Google made a series of commitments about its planned operation of Fitbit and use of the its health data.Jan 14, 2021
What happens to Fitbit stock?
What happens with Fitbit stock now that it's untradeable? Fitbit stock becoming untradeable has to do with a deal the fitness device maker inked with Google more than a year ago. In Nov. 2019, Fitbit announced that Google would acquire it. Google agreed to purchase Fitbit for $7.35 per share, valuing the fitness specialist at $2.1 billion.
How much did Google buy Fitbit?
Google agreed to purchase Fitbit for $7.35 per share , valuing the fitness specialist at $2.1 billion. Google fought Facebook for the chance to buy Fitbit. In the end, it agreed to spend more on the deal than it had intended.
Is Fitbit a part of Alphabet?
Moreover, Fitbit should be a boost to Alphabet’s digital health business. Alphabet is the parent company of Google, self-driving and ride-hailing service provider Waymo, and life science startup Verily. Digital health is another promising space for Google and Alphabet in their bid to diversify outside advertising.
Will Fitbit stock convert to Google?
As Google agreed to pay for the Fitbit acquisition in cash rather than stock or a mix of both, Fitbit stock will not convert to Google or Alphabet stock. Article continues below advertisement.
Is Fitbit stock removed from brokerage account?
Consequently, Fitbit stock will be removed from your brokerage account. You can decide whether to use the cash to buy Google stock. Article continues below advertisement. Google parent Alphabet's stock currently trades at more than $1,730 per share.
A Path Forward for Fitbit
First of all, FIT stock investors should be thrilled with the buyout. Alphabet may have just saved Fitbit and their investment. Sure, the $7.35 per-share buyout price is well below Fitbit’s initial public offering price of $20 back in 2015. But FIT stock has traded as low as $2.81 in recent months.
Why Would Google Buy a Doomed Company?
On its own, Fitbit’s business model and lack of resources to compete with Apple may not have been a winning recipe. But a company the size of Google doesn’t necessarily care about Fitbit device sales growth or profits.
How to Play GOOGL Stock
In a nutshell, the biggest takeaway from the Fitbit deal for Google stock investors is that Fitbit puts Google in a better position to take on Apple.
How much did Fitbit buy Google?
Fitbit announced that entered into an agreement to be acquired by Google for $7.35 per share in cash. for $2.1 billion, or $7.35 per share in cash. But Fitbit shares have been sliding this year, and they recently closed at $6.36. That’s 13% below Google’s offer price.
When will Fitbit and Google merge?
Google and Fitbit have until Nov. 1, 2020 to seal their deal—with a maximum extension date of May 1, 2021, ...
Does Fitbit have a cache?
Also, the cache of health and fitness data collected by Fitbit could be strengthen Google’s power in the ad market, since Fitbit data could allow it to better target advertising, at the expense of other industry players.
Is the Fitbit acquisition a second request?
Beyond the EU probe into the Fitbit acquisition, the U.S. Justice Department is also taking a close look, facing additional scrutiny in the form of a “second request,” according to a December report in the New York Post.
How much is the Motley Fool short for 2020?
The Motley Fool has the following options: short January 2020 $155 calls on Apple and long January 2020 $150 calls on Apple and recommends the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy. Prev.
Is Fitbit a publicly traded company?
Fitbit debuted several years ago, and it was a very quickly growing, profitable company that was the de facto name in its space. Things have not gone particularly well for them as a publicly traded business.
Does Fitbit work with Apple Watch?
The narrative has really shifted ever since Apple jumped in with the Apple Watch. Fitbit historically had done really well with these fitness trackers. But then, the whole market started to shift on these wearables, from basic trackers to more full-featured smart watches.
Is Fitbit an integrated player?
So it seems like that's where Fitbit is going to plug into their overall strategy. Niu: Right. Obviously, Fitbit is an integrated player. They make the hardware and the software. Whereas Wear OS has been just the software side of it.