Fitbit Stocks Rallies On Unconfirmed Takeover Offer

By Markets MarketWatch Pulse

Shares of Fitbit Inc. rose more than 3% Thursday following an unconfirmed SEC filing of a potential takeover bid. According to the filing, which was listed on Fitbit's website, ABM Capital LTD, whose address is listed in Shanghai, China, offered to buy all of Fitbit's Class A common shares for $12.50 each. The phone number for ABM listed in the filing did not work, and MarketWatch could not reach the financial company for comment. Fitbit didn't immediately respond to a request for comment, and a spokesperson for the SEC would not comment on whether the filing was legitimate. Shares of Fitbit traded around $8.73 in recent trade, bucking a broader tech-market sell-off, with the Nasdaq Composite falling by 1%, or more than 55 points. Fitbit has been beaten down in recent quarters by weak sales. Its shares have fallen 42% in the past three months and more than 75% in the past year, vastly underperforming both the Dow Jones Industrial Average and S&P 500 .

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