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Fitbug – this time RNS Reach joke (sorry, ‘announcement’) seen for what it is

By Steve Moore | Friday 17 February 2017

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Having seen its shares soar last month on its previous RNS Reach announcement, enabling a placing before the shares completely slumped back, Fitbug (FITB) has now released another – claiming it “would like to share some insights and findings from a recent case study, following a pilot wellness programme with MTR Crossrail”.

Rolled out “to a select group of about 100 MTR Crossrail employees over a period of three months”, Fitbug reports that;

“•  Over the course of the programme, participants walked 72% more than the average person in the UK
 •  Activity levels gradually increased from week one to week four
 •  Some individuals improved their step activity by 177% over the course of the programme
 •  60% of employees who participated in the post-programme survey thought that the programme had a positive impact on office morale

MTR Crossrail has shown a real commitment to the wellbeing of its employees by setting some valuable benchmarks during this pilot wellness programme.


Er, ok! What’s the benefit to Fitbug shareholders of this supposed success? Natch, no financial information is provided – with instead Fitbug seemingly considering better information for shareholders the praising of an organisation for using its products!

The announcement has this time been seen through though – the shares actually slightly lower to 0.16p. Still suggesting jam tomorrow despite already “over 10 years' experience innovating the wearable health technology sector”, this, natch, remains a bargepole stock.

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