Tue. Nov 12th, 2019

Fitbit stock jumps after announcement of collaboration with Singapore’s public health program

1 min read

Fitbit Inc. shares

FIT, +4.41%

are surging in Wednesday morning trading after the company announced that it would be working with Singapore’s Health Promotion Board to offer Fitbit devices and services to Singapore residents as part of the country’s public health program. The collaboration represents Fitbit’s “first major integration of a digital health platform and wearables into a national public health program globally,” the company said in a release. Participants will have access to health coaching and monitoring tools as part of the program. Fitbit shares are up 6.4% Wednesday, but they’ve dropped 38% over the past three months as the S&P 500

SPX, +0.78%

has risen 2.2%.

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