![]() ![]() I called my bank and they said they cannot take action until this app attempts to take out funds from my checking it is all so disconcerting I could not access my account as it is still locked so I tried contacting customer service by phone and waited on hold for over 30 minutes so I emailed them to tell them they are mistaken and I did NOT authorize an automatic withdrawal out of my checking account. In the meantime I received another email from this app saying that my weekly automatic deposit of $950 would be transferred to my account in 2-3 days and I became alarmed as I had not set up any auto deposit from my checking into my this app account. The email said it would take 2-3 days to unlock my account. I received an email telling me I was locked out due to Equifax breach so to unlock I had to send a copy of my driver’s license to verify my identity. Then yesterday I tried to access my account but couldn’t gain access so I called (put on hold too long) and then emailed Customer Support. Then I linked my checking account to my account. I got a fraction of share of stock from Groupon a few days ago and finally downloaded the this app app and put in my Social Security Number as they requested due to regulations. I was interested in this to earn some extra money and not take too much risk as nowadays you have to be careful. I can’t even cash out, give them what they say owe and be done with this ridiculous company. I was told “Oh well, should have read your terms of service better.” Then they just stopped responding. ![]() The representative said my email said it was “pending” and “requested.” I took screenshots of the email to send them proving her wrong. So I email their non existent customer service to tell them that I’d happily cover the $20 but absolutely not the $30 because my email clearly stated they had my money. If I had thought that the transaction hadn’t been completed I wouldn’t have even used the card in the first place. Then I hear from this app that they’re also charging me $30 for a returned check fee. I then get an email as I’m returning home that I didn’t have funds for my stock and had gotten $30 an NSF fee. So I’m using my card as normal for food and gas while I’m away confident that if I didn’t have funds in my account, my payments just wouldn’t go through. They credit my account $20 and I buy stock. ![]() I don’t know about you, but that verbiage tells me they have RECIEVED my funds. I got an email stating “your money has finished its journey from your bank to our clearing house.” I had couldn’t check my mobile banking to verify because we were in a remote location. I got paid and put $20 in like I do every pay period. Moreover, the stock is down 20% so far this year and recently made an all-time low of $4.21 on the NYSE.So I had zero issues until I was on vacation with no cell reception. It has been the worst year for Fitbit as the stock has slumped 40% from its 52-week high peak price of $7.12 in February. Prior year period and experts believe it is not going to improve any time soon. That being said, the user count is apparently on the rise and that could Reported a 10% rise in revenue despite managing to generate a 32% rise in ![]() Popularity of wearable devices has been a problem for Fitbit as it has drivenĭown the average selling price of a device. However, it is also necessary to note that Fitbit now faces tough competition from big-ticket companies like Apple, Xiaomi, and Huawei in the particular space. The Q1 2019 sales figure a 32% year on year rise for the same period. In the first quarter of 2019, it sold 2.9 million devices. That is definitely good news for Fitbit, which managed to record sales of 13.9 million devices last year. The number of units sold per year could touch 279 million. Next five years and hence, it is worthwhile to speculate on Fitbit’s situationĪs per research from IDC, a tech researcher, wearable tech is going to be a much bigger market in the next five years. Penny Stocks & The Wearable Tech Industryīelieve that the wearable tech industry will grow much more strongly in the In order to generate growth, the company has made a concerted effort to move into other products in order to end the dependence on device sales. Needless to say, despite generating a bit of growth, FIT stock has continued to fall. Specifically, it was cited that just because it was popular didn’t mean it was a good penny stock to buy. We outlined this company in our June Report: 10 Most Popular Penny Stocks on Robinhood. Although the device has proven to be popular, the company has not fared well at all. Among those, Fitbit Inc ( FIT Stock Report) has emerged as one of the most interesting. Wearable tech has been one of the biggest innovations in consumer-facing technology over the past decade. ![]()
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