Fitbit attracts new attention from short-sellers

By Noel Randewich SAN FRANCISCO (Reuters) – Wearable gadget maker Fitbit Inc attracted far more bets against its recently rising stock in September, underscoring concerns about competition from the likes of Apple Inc . Since Sept. 10, borrowing in Fitbit shares has jumped 50 percent, according to lending data from SunGard's Astec Analytics, which provides a strong glimpse into short-selling activity. While short-selling in Fitbit declined from 7.4 percent of outstanding shares at the end of August to 6.9 percent in mid-September, that rate is still much higher than the average short interest of 2.7 percent for tech companies, according to Thomson Reuters data.

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