Technology
Sonos must avoid the fate suffered by Fitbit and GoPro: CHARTS
Sonos’ IPO last week showed a promising forecast for the home audio system company, with shares eventually level ling out to about $19.
The company is now valued at $1.5 billion, but investors are concerned about Sonos’ long-term endurance as it gravitates toward producing products with longer shelf lives, which result in longer replacement cycles.
As this chart from Statista shows, the track record of other consumer hardware companies like Fitbit and GoPro is a trajectory that Sonos should avoid. Both companies saw encouraging IPO results before declining sales eventually caused share prices to drop nearly 80%.
Jenny Cheng/Business Insider
Get the latest Fitbit stock price here.
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