Fitbug share price runs riot again as it launches new KiQplan programmes

 
Emma Haslett
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Shares in the company have risen more than 1,600 per cent since October

Shares in Fitbug, the Aim-listed maker of fitness-tracking wearable tech, jumped in early trading after it unveiled a new "digital coach".

Shares in the company leaped since the end of October, after it announced Sainsbury's and US retailer Target had agreed to stock its products. As it continued to rise, from 0.35p to a high of 6.1p, Fitbug issued a statement saying it knew of "no reason" for the move in its share price.

Investors, though, are clearly impressed. After a dip earlier in the month, shares rose to 5.7p this morning.

The company already links its wearable technology products to an website which helps users track their daily activity, but it said its new product, KiQplan, takes data from users' smartphones and wearable technology products - including those made by third parties - to "provide personal targets, feedback and advice, plus the encouragement needed to achieve specific goals".

"By taking an open approach and allowing KiQplans to integrate with leading third party trackers and not just the company's own products, it is expanding the digital health revolution to as many people as possible," said Fitbug.

The product will launch in the US on Sunday.

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