Scalper1 News
GoPro (GPRO) cameras are a hot consumer electronics product now. But the same can’t be said for its stock. GoPro shares have fallen more than 50% since peaking at 98.47 on Oct. 7. The once-hot IPO is now trading at its lowest point in more than five months. In afternoon trading Monday, GoPro stock was down over 5% to below 45. GoPro (GPRO) stock has fallen hard for two straight days since it guided to lower-than-expected earnings and gross profit margin for the current quarter. Investors also were stunned by the sudden resignation of Chief Operating Officer Nina Richardson. Plus, Wall Street is worried about the impact of the lockup expiration on IPO shares coming on Feb. 17. About 76 million shares will be allowed to hit the market as insiders get an opportunity to sell their stock. Those shares represent 59% of the company’s 127 million shares… Scalper1 News
Scalper1 News