GoPro, Inc. Hits Another All-Time Low

The long, painful move lower for GoPro, Inc. and its shareholders continued earlier today after shares of the company dropped nearly 6% to close at another all-time low.

Prior to today, the lowest that shares of GoPro, Inc. had ever traded had been $28.65, which was the opening print on June 26th, 2014, the day that the company went public. After that, the investing world caught GoPro fever, driving shares of the company up to an all-time high of $89.89. As the stock was hitting its lofty heights, some were even wondering if the camera/software company had the potential of becoming the next Apple, Inc.

As we've seen with practically every other previously high-flying stock in the past, the move lower after the peak has been long and painful. Analysts, who had previously been high-fiving the company on a nearly daily basis, are almost all happy to now pile dirt on the company. Investors, most of whom are underwater (aside from people who got in on the initial public offer), are throwing in the towel on the company in droves as shares move closer to the initial public offering price. As we saw with Facebook shortly after it went public, there is practically nothing that the company can do to reverse the negative momentum. It is going to take something big (similar to Facebook finally solving their mobile monetization problem) for burnt investors to get interested in holding GoPro shares once again.

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In just two months, shares of GoPro, Inc. have tumbled from roughly $65 per share to their current level of $27.60. Wave after wave of selling have taken the shares lower, leading many to now wonder just how low GPRO will go.

Many people are hopeful that Apple, Inc. will decide to buy GoPro, Inc., though the market is clearly telling us otherwise.

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The CEO of GoPro, Inc. is now in the unenviable position of reinvigorating his business and convincing both investors and analysts not to give up on his company. That, as many companies have realized in the past, is easier said than done.

Filed under: General Knowledge