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Fitbit cuts 2019 revenue view, stock drops to record low

(Reuters) — Wearable device maker Fitbit cut its 2019 revenue forecast on Wednesday, blaming disappointing sales of its newly launched cheapest smartwatch Versa Lite, sending its shares tumbling as much as 16% to a record low. Fitbit in March launched Versa Lite, priced at $160, compared with the $200 the …

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