Now that consumers have made it through both Black Friday and Cyber Monday, many retail analysts have started to declare winners and losers. Jim Cramer has always considered Fitbit as one of his favorite companies, and it seems that analysts are starting to agree.
So far, three analysts have anointed Fitbit, the dominant maker of wearable health and fitness trackers, as a major winner in retail. This comes at a time when Fitbit's stock could really use the good news.
The company reported a fantastic quarter with solid guidance a month ago, but the selling pressure has gotten the best of the stock. First it ended its post-IPO lockup on insider selling early, and then it conducted a 17 million-share secondary offering to raise money for its business. This gave existing shareholders the chance to sell the stock, and they did.
As a result, Fitbit's stock plunged 29 percent in November, to $28, despite the fact that the fundamentals of the company remain strong.