Fitbit slumps as new smartwatch fails to excite

Fitbit Inc's shares fell 14 percent in early trading on Tuesday after the company said its newly launched smartwatch was not selling as expected, raising concerns about the company's ability to become profitable again in the near term.

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Fitbit Inc's shares fell 14 percent in early trading on Tuesday after the company said its newly launched smartwatch was not selling as expected, raising concerns about the company's ability to become profitable again in the near term.