Fitbit Works Its Way Higher

Fitibit Inc FIT shares are trading higher by $0.37 (1.6 percent) at $18.25 in Thursday's session. The issue is getting a boost today off the news that the company may be joining forces with Alibaba Group Holding Inc BABA to expand wearable wearable device use in China.

Fitbit, which lost two-thirds of its value from its January high ($30.96) to its February low ($11.91), is still quite from distance from its all-time ($51.90) made in August.

After a higher open, it retreated and found support just above the upper-end of Wednesday's range ($17.95), only reaching $18.02 before resuming its rally.

So far, it has reached $18.85, which is just above its January 25 high ($18.72).