Fitbug share price jumps 67 per cent on Jawbone deal

Jessica Morris
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Fitbug's share price jumped higher today (Source: Getty)

Fitbug's share price jumped higher today, after the company's digital weight-loss programme was chosen for a new marketplace by another wearable device maker Jawbone.

Shares in the Aim-listed company, which makes wearable fitness trackers, jumped as much as 68 per cent to nine pence in late afternoon trade.

Jawbone marketplace will offer Fitbug's Slim + Trim Kiqplan, a digital weight loss programme, and also draw attention to other "Kiqplans" available.

"[The deal] represents a strong milestone in line with Fitbug's previously announced strategy to increase its market profile as it moves to scale up the business," Paul Landau, chief executive of Fitbug, said.

Fitbug's rise began late last year, after the firm announced a deal with Sainsbury's and Walmart. This pushed its share price from around 0.4 pence to a peak of 20 pence per share in November.

It's since agreed a deal with the smartphone arm of Samsung to feature one of its products on its digital health platform. Since then, its meteoric share price growth has tailed off somewhat, falling as low as around five pence per share this year.

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