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Fitbit IPO: 5 Reasons Warren Buffett Wouldn’t Invest in It

Fitbit, a maker of fitness tracking devices, recently filed for its initial public offering (IPO).

According to the filing submitted to the Securities and Exchange Commission (SEC), Fitbit’s IPO price is between $14.00 and $16.00 a share. The company plans to issue 22.4 million shares so the IPO would raise $358 million. Fitbit stocks would be listed on the New York Stock Exchange (NYSE) under the ticker symbol “FIT.” Fitbit’s IPO date is yet to be announced. (Source: Securities and Exchange Commission, June 2, 2015.)

So is Fitbit’s IPO worth investing in? Well, billionaire investor Warren Buffett certainly wouldn’t do it. Here are the main reasons why: