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Cramer Compares Sonos IPO to Fitbit: 'Way Too Risky'
Fitness tracker and smart watch maker Fitbit Inc (NYSE: FIT) saw its stock initially move higher after its 2015 initial public offering, but has since fallen out of favor with investors — and the same may happen with newly public smart speaker maker Sonos Inc (NASDAQ: SONO), according to CNBC’s Jim Cramer.
What He Said
The bullish case for Fitbit’s stock was based on the belief that a large and loyal user base would continuously buy newer and more expensive fitness trackers and watches over time…