Tuesday, March 07, 2017

GoPro Shares Fall to Record Low After Goldman, Citi Say Sell - Bloomberg

On a related note, see Apple Exploring AR in Israel as Robert Scoble Insists 'Mixed Reality' Glasses Coming This Year (MacRumors)

"GoPro Inc. fell to a record low Monday after Goldman Sachs Group Inc. became the second firm in two days to recommend selling the stock, highlighting the camera maker’s struggles to compete in an increasingly crowded market and overcome missteps with new products.

"We think GoPro’s main challenge is that its core action market is largely saturated, as it has not attracted a significantly broader and more mainstream audience," Simona Jankowski, an analyst at Goldman Sachs, wrote in a note to clients. "We expect GoPro to continue to struggle fundamentally."

The shares fell as much as 10 percent to $7.95, the lowest intraday price since June 2014, when the company first sold shares to the public at $24."
GoPro Shares Fall to Record Low After Goldman, Citi Say Sell - Bloomberg
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