Every year, Sport England spends in the region of £300m on encouraging people to get fit and active, specifically women, those with disabilities and people on lower incomes.
A lot of presumptions can be made between this and the increase in the number of people sporting fashionable fitness trackers on their wrists.
The Fitbit entered the market as an activity tracker back in 2017 with a hefty price tag and remains one of the top three businesses in this field based on sales.
Even at $300, or around £250, it didn’t stop people snapping it up and, as a result, the American company launched improved versions at lower prices.
However, in spite of firm’s rising sales, boosted by consumers’ desire to better understand their health, its share price has not been doing any favours for its investors.
In its first six months of trading on the New York Stock Exchange (NYSE), Fitbit fell 10%, knocking $3 off its price per share.
Since its initial listing in June 2015 to date, the share price has continued to plummet, losing more than 85% of its value and bringing the price per share from $32.5 to just $4.63.
But, as the popular saying goes, fortune favours the brave and for those that see a future in the business there could well be an opportunity to boost your bank account as well as your health.
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Analysts consider the stock to be undervalued by the market. Why? Well, they believe it to have a strong balance sheet, great brand awareness and expect growth of around 20%-25% over the next three years.
This growth will largely be a result of the company’s ‘healthcare unit’, which caters specifically for the sector’s providers and enterprises and combines a focus on medicine with its existing wellness remit.
This technology is still very much in development and is a tool that assists in the improvement of health via coaching its users on losing weight or giving up smoking.
The plan is for this hardware to be expanded for use outside of medical professionals, to reach private care and communities who would benefit from overall health improvements.
Getting in shape, giving up an unhealthy habit or just making changes to improve your lifestyle are great steps to take and a wearable ‘wellness’ tracker is a great accessory.
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