: Fitbit makes devices that can be worn on the wrist or clipped to clothing to track steps taken, calories burned and hours spent sleeping, according to CBC. Users track their own progress through their smartphone. Fitbit initial public offering the priced at $20 a share, valuing the company at about $4.1 billion US. But its stock flexed some muscle, trading as high as $31.90 Thursday morning, as investors embraced the stock as a technology play with huge appeal to young adults. There are other devices going after the same wearable technology market, including Jawbone, Fitbug and Apple watch, which may well become the biggest. With cash from its IPO, it plans to expand its sales network as well as work on new applications. But Fitbit was early out of the gate and had sold 20.8 million devices as of March 31, making it the leader in the U.S. fitness activity tracker market, according to market research company the NPD Group.
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