Scalper1 News
GoPro stock slipped into the red on Monday despite indications that its action cameras had a good Black Friday sales weekend. GoPro (GPRO) shares were down 5% to near 74 in afternoon trading on the stock market today. Ambarella (AMBA), which supplies digital image processors for GoPro’s Hero cameras, saw its shares drop 9% to near 50. GoPro’s Hero 3+ Silver camera “crushed it on Black Friday,” Pacific Crest Securities analyst Brad Erickson said in a note Sunday. “We detected particularly strong demand for the discounted Hero 3+ Silver Edition, which was being bundled with various combinations of memory cards, accessories, mounts and/or additional gift cards, depending on the retailer, for $250 (normal camera-only price is $300),” he said. “Several stores we visited had sold out of their allotment on Thanksgiving evening, which was encouraging.” Meanwhile, retailers had plenty of inventory of the more expensive Hero 4… Scalper1 News
Scalper1 News