Just a bit of FitBit (FIT)

It has been quite a while since I last posted, but I am back! I will fill in the blank spaces in future posts, but I am excited to announce my most recent investment. I invested in FitBit Inc. ($FIT) after its precipitous 18% drop after reporting earnings. FitBit was an IPO darling just a year ago, but it has fallen from nearly $50 to $14. This story is all about expectations...simply, FitBit is actually much better off now then when they first became a public company. They have not met Wall Street's lofty expectations however, so their stock has been punished. This is a company with competition, but they have serious growth potential and are the dominant name in the wearables market. At a P/E multiple that fell to 18 I could not help but invest.