Analysts See Weakening Demand for Fitbit

Shares of Fitbit (FIT) - Get Report slid on Wednesday after a report by Pacific Crest Securities noted weakening demand for the company's fitness trackers. A review of eight big box retail locations showed that demand for the Charge HR did well last month but that demand for Alta and Blaze decreased. Analysts at Pacific Crest said 'user attrition rates remain worrisomely high' and that they don't see as much demand for the product in Europe as in the U.S.

This article was written by a staff member of TheStreet.