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. 

Apple’s newest watch, starting at $399, can now perform an ECG, detect atrial fibrillation and detect when a person’s heart rate is too low. The watch is even FDA certified. Apple Watch Series 3 devices will now retail at $299.

Pre-orders will begin this Friday; the device will be available for purchase on September 21st.

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