This month, GoPro stocks had seen a fall of $1.28, bringing its price from $5.34 to $4.15 per share. It did not help that the U.S. had added another 10% to the 25% tariff on Chinese goods.
Important of note, GoPro's shares had skyrocketed which rose as high as 73% between the months January and May. However, today's stocks had plummeted since May's market activity. GoPro's recent earnings forced shares down by 13%.
While the action camera company's 2nd quarter report showed an increase in revenue and profit since the year before, it missed estimates. It wasn't able to make the expected revenue of $302 Million as it fell short of $10 Million.
The 2nd quarter results had been "underwhelming" according to analysts. Profitability is still well within the cards despite its performance. But then, the recommending shares ahead of GoPro's next update might not be wise. Analysts are in agreement that for GoPro to become viable, it has to prove itself to be a growth company first.
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