Fitbit posted a weaker-than-expected quarter and its shares are crashing

Fitbit, which has increasingly had to fend off competition from devices like the Apple Watch and is increasingly making moves in the healthcare space, still hasn’t seemed to nail things down quite yet as it posted weaker-than-expected financial results for its fourth quarter.

The quarter was more or less a complete whiff, falling short of Wall Street estimates for earnings, revenue generated, and also the company’s outlook for the first quarter next year. That may be just a factor of the difficulty wearable device companies face going forward, as even though they can come out with new products and find niches, it’s not clear if users are going to continue adopting them. That explains some of the moves from Fitbit to further get into health care, but it looks like there’s…

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