Fitbit, maker of wearable fitness devices, saw its shares drop 20.8% after reporting fourth-quarter earnings. Shares fell $3.44 on Tuesday to close at $13.08 per share near an all-time low.
Fitbit sold 8.2 million connected health and fitness devices in the fourth quarter which includes the holiday season. U.S. revenue in the quarter grew 100% from the previous year and made up 75% of fourth quarter revenue. The company sold a total of 21.4 million devices for all of 2015.