Fitbit (FIT) Stock Continues to Spike Following Trading Debut

NEW YORK (TheStreet) -- Shares of Fitbit (FIT) are continuing to gain, up 16.31% to $37.80 in early market trading Monday, following its initial public offering debut on the floor of the New York Stock Exchange last week.

The wearable device maker has risen more than 52% since it first started trading last Thursday, according to Yahoo! Finance.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio called Fitbit "one of the hottest IPOs of the year."

Cramer added that despite the big rally, the stock is still a bargain.

San Francisco-based Fitbit priced its initial public offering at $20 per share, above early expectations.

The fitness device company now has a total market cap of about $7.6 billion as of 10:03 a.m. ET today.

Fitbit is a provider of health and fitness products, that combines connected health and fitness devices with software and services, including an online dashboard and mobile applications, data analytics, motivational and social tools, personalized insights, and virtual coaching through fitness plans and interactive workouts.

The company offers a number of fitness products, including Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria.

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