Fitbit Falls After Morgan Stanley Recommends Investors Sell
The Fitbit Inc. Blaze
Photographer: David Paul Morris/Bloomberg
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Fitbit Inc.’s troubles aren’t letting up.
Shares of the wearable health-device company fell 7.5 percent to $4.72 at 9:34 a.m. in New York after Morgan Stanley recommended investors sell the stock, saying Fitbit’s plans to focus more on software instead of devices are uncertain and will take time to bear fruit.