More pain possible for Fitbit shareholders as lockup expires

Fitbit Inc's stock, already at a record low, could take another hit on Wednesday, when insiders and employees will be allowed to sell some 127.3 million shares that had been locked up. "The stock is in a steep downtrend and negativity begets more negativity on Wall Street," said John Gardner, managing member at Aptus Capital Advisors LLC in Fairhope, Alabama. "Fitbit would be on our radar once price tells us that this negative downtrend is over.