Fitness wearable company, Fitbit, began trading on the New York Stock Exchange yesterday and received a very encouraging boost in stock price.

The company priced their IPO at $20 a share on Wednesday night and after a day's trading concluded yesterday the stock finished at a price of $29.68, an increase of 48.4 percent.

Wall Street valued the company at $4.1 billion. It's performing well on the stock exchange for various reasons including its pioneering status. Fitbit leads the way in allowing people to track their health and workouts as well as being able to offer insightful advice based on data collected.

The company has sold over 20.8 million devices since setting up in an industry which CEO, James Park, says attains $200 billion in spending every year.

According to CNN, the San Francisco based activity tracker maker has already generated revenue and profits. It reported sales of $745 million in 2014 and made a profit of over $130 million last year.