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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

11/1/19

Fitbit (FIT) a good fit for Google. The smartwatch maker is up 16% and up over 100% from the August lows after agreeing to be acquired by Google/Alphabet for $7.35 a share in cash or $2.1 billion. Fitbit has suffered headwinds as Apple's popular smartwatch now controls half the smartwatch market. Google didn't make its own smartwatch but licenses out its operating system. With their operating system and the Fitbit watch, Google can now compete more effectively with Apple.

Pinterest (PINS) balloon may be popping. The website that allows you to pin pictures to a webpage is down 22% today and below its IPO price in April following earnings. Sales did grow 47% to $279.7 million, but the company continues to struggle to make money and remains tiny compared to its $10 billion market cap. The analysts may be throwing in the towel with four downgrades. Lets hope they get things turned around for Pinterest.

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