Market Overview

Fitbit Higher After New Product Release

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Fitbit Inc (NYSE: FIT) shares are trading higher by 38 cents at $6.12 in Monday's session. The catalyst for the rally is the unveiling of Fitbit Aria2 TM W-Fi Smart Scale, which is engineered for easy set-up with smartphone's Bluetooth connection that can help you better understand the composition of your physical makeup.

After a flat open, it immediately found support just above Friday's close ($5.73) at $5.74 and began to move higher. So far, the ensuing rally has taken shares to $6.17. That high is just shy of its May 10 high ($6.25). That is the same day, the issue posted it last close over $6.00 when it ended that session at $6.13.

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