GoPro Inc (NASDAQ:GPRO) finally found some support last week, for reasons that should surprise no one. The company is doing exactly what analysts thought it should do, and the result was a surge in GPRO stock. It’s just that simple.
Don’t get me wrong, the company is still losing money. GoPro’s year-over-year revenue is down 47.4%, and it made a net loss of $91.77 million for the quarter. (Source:.
But that wasn’t a guarantee of growth. Investors were keenly aware of GoPro’s slowing business. What really concerned them was the company’s apparent lack of a response because there was no indication that management could stop the crash in GPRO stock.
The share price fell 79.2% in the last year as investors lost faith in the company’s vision, or lack thereof to be more succinct. That’s the story of how GPRO stock landed in the bargain bin, but it still doesn’t explain how the company spun widening losses as a reason for celebration. Let’s take a closer look.
One of the company’s biggest problems was that it was scattered. Great companies, like Apple Inc. and Amazon.com, Inc., know exactly what they’re selling and how to make more money from each of their customers. GoPro hadn’t quite figured that out yet.
The post GPRO Stock: Is GoPro Inc Finally Going to Rebound? appeared first onProfit Confidential.