Fitbit Pares Gains

Fitbit Inc. (NYSE: FIT) shares are trading higher by $1.08 at $29.99 in Monday's session. The catalyst for the rally was the company being the leading download on The App Store over the Christmas weekend.

That is the good news; the bad news is the issue is trading well off its pre-market high of $31. It has also distanced itself from its regular session high of $30.44.

It hasn't closed over $30 since December 10, when it ended the session at $30.77. The issue is much closer to its all-time low ($27.07) than its all-time high ($51.90) since it debut in June.