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GoPro Inc (GPRO) Dropped Over 6% Today Prior To Thursday's Earnings Report
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On Monday, GoPro Inc (GPRO - Free Report) suffered a 6.03% stock price drop, falling to $12.77 per share, as of 3:20pm CT. This continues a negative trend that has consumed GPRO over the past year.
Investors are hoping for some positive news with GoPro's earnings report coming Thursday, November 3rd. 2016 has not been friendly to the tech company, as its stock price has fallen about 30% compared to last year. A big reason for this immense fall has to do with lack of sales.
On October 13th, it was first reported that GPRO would halt selling the HERO5 through online retailing giant Amazon (AMZN - Free Report) . This is figured to be a temporary hold, as it is anticipated the two companies will continue their partnerships in November. However, it does explain why GPRO is experiencing such big losses in their stock price.
The hope is for the company to see a spike in sales during the upcoming holiday season. Their latest product, the 'Karma', is set to start shipping out on November 28th after experiencing a few delays. GPRO CEO Nick Woodman is very optimistic this product will help the company move into the right direction. In an interview with CNBC's 'Power Lunch,' Woodman stated, "Karma is simply the best solution out there for stabilization in the air or handheld or mounted to your favorite gear. And GoPro is the only company in the world that is making this solution possible, so I think we're in a really good position."
Investors are hoping Woodman’s optimism will show up in Thursday's earnings report. Since its IPO back in 2014, GPRO has missed expectations 4 out of the 9 quarters of reporting. This explains the current Zacks Rank VGM grade of 'F' with a #3 (Hold). Make sure you check out GoPro's Zacks Rank on Thursday after its earnings report is released to see where their updated rank stands.
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GoPro Inc (GPRO) Dropped Over 6% Today Prior To Thursday's Earnings Report
On Monday, GoPro Inc (GPRO - Free Report) suffered a 6.03% stock price drop, falling to $12.77 per share, as of 3:20pm CT. This continues a negative trend that has consumed GPRO over the past year.
Investors are hoping for some positive news with GoPro's earnings report coming Thursday, November 3rd. 2016 has not been friendly to the tech company, as its stock price has fallen about 30% compared to last year. A big reason for this immense fall has to do with lack of sales.
On October 13th, it was first reported that GPRO would halt selling the HERO5 through online retailing giant Amazon (AMZN - Free Report) . This is figured to be a temporary hold, as it is anticipated the two companies will continue their partnerships in November. However, it does explain why GPRO is experiencing such big losses in their stock price.
The hope is for the company to see a spike in sales during the upcoming holiday season. Their latest product, the 'Karma', is set to start shipping out on November 28th after experiencing a few delays. GPRO CEO Nick Woodman is very optimistic this product will help the company move into the right direction. In an interview with CNBC's 'Power Lunch,' Woodman stated, "Karma is simply the best solution out there for stabilization in the air or handheld or mounted to your favorite gear. And GoPro is the only company in the world that is making this solution possible, so I think we're in a really good position."
Investors are hoping Woodman’s optimism will show up in Thursday's earnings report. Since its IPO back in 2014, GPRO has missed expectations 4 out of the 9 quarters of reporting. This explains the current Zacks Rank VGM grade of 'F' with a #3 (Hold). Make sure you check out GoPro's Zacks Rank on Thursday after its earnings report is released to see where their updated rank stands.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>