TheStreet’s Growth Seeker fund may add shares of Fitbit (FIT) to its holdings, according to portfolio manager Chris Versace. The stock has been added to the bullpen, which means Fitbit may eventually become a portfolio holding if the conditions are right. Versace likes Fitbit because of the expected explosion of growth in wearables. Versace said he’d like to see the stock pull back to $30, which would put it in the fund’s striking range. Versace also commented on United Natural Foods (UNFI), which is another stock in the bullpen, saying he’s staying on the sidelines for now, finding no reason to add the stock to the portfolio just yet. Versace is concerned that margins at the company are under pressure.
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