Fitbit (NYSE:FIT) jumps 3.5% in premarket trading as it shifts manufacturing operations away from China for effectively all of its trackers and smartwatches.
Expects that its products will no longer be subject to Section 301 tariffs starting in January 2020.
“In 2018, in response to the ongoing threat of
tariffs, we began exploring potential alternatives to China, said Fitbit
CFO Ron Kisling. “As a result of these explorations, we have made
changes to our supply chain and manufacturing operations and have
additional changes underway.”
https://seekingalpha.com/news/3504713-fitbit-rises-3_5-percent-shifts-production-outside-china
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