Fitbit Inc Sinks After Q4 Report

Fitbit Inc FIT shares are trading lower by $2.20 at $13.32 in Tuesday's session. Despite a Q4 beat of a dime with over $50 million more in revenues, the Street is concerned with its lowered FY2016 EPS and sales guidance.

After a lower open, it managed a brief rally to $14.30 before continuing its move lower. So far, it has reached $13.17, but it has been able to distance itself from that level.

If the decline continues, its next support level comes in at its all-time low that was made on February 11 at $12.90.