https://techcrunch.com/2018/09/12/fitbit-stock-sinking-following-apple-watch-announcement/

Apple announced its latest and greatest Apple Watch in Cupertino today — The Apple Watch Series 4. 

Fitbit (NYSE: FIT) stock sank as a result. Right now it’s down more than 6 percent and continuing to tank. The company sells a competing wearable health and fitness device.