Today’s Fitbit downgrade suggests inventory problems could plague the company and Apple is emerging as the health play in the wearable technology space, said TheStreet’s Jim Cramer. Pacific Crest has downgraded Fitbit to underperform, saying that Charge 2 is off to a slow start. Charge 2 is the company’s flagship holiday product. The analyst also noted that he believes a large number of Fitbit owners stop using their devices within a few months, and that will make growth challenge. Fitbit’s stock is down sharply this year.
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