One of the most bizarre stories in the stock market is GoPro, symbol GPRO. The stock peaked in 2015 at $100 at which time it had a market cap of $11B. Right now, 3 years later, it is trading at $5.55 with a market cap of $750M. That is a crash of 94 pct! No coincidence, GoPro has not much interest by media any longer. What to make out of this story?
GoPro, Inc. founded by Nick Woodman in 2002, manufactures eponymous action cameras and develops its own mobile apps. Initially named as Woodman Labs, Inc, the company eventually focused on the connected sports genre, developing its line of action cameras and, later, video editing software, The high definition electronic video-recording gadget is very famous amongst the skydivers and basejumpers for extreme sport actions.
For whatever fundamental reason, somethings seem to be terribly wrong with the stock price.
On 26 June 2014, the stock price of GPRO opens at 28.65, and made an stellar move to 97 within a matter of just 3.5 months. Subsequently, the stock price had a disastrous plunge for the next 3.5 year plunging 95% to the low of around 4.50.
InvestingHaven’s research team thinks that GPRO could have bottomed for now, and we are cautiously bullish right at a time when almost nobody believes that GPRO could make a come-back.
For the upside potential the zone of 7.2 – 7.8 will be a major hurdle to break through. If it breaks out of this level, though, the next important resistance will be around 12.2. Should it be rejected by 7.2 and falls below 4.5 again, the bearishness continues
This is certainly NOT a call to buy nor a call to sell.
Crypto market BREAKOUT: InvestingHaven flashed a BUY alert on July 18th 2018. Top notch guidance on how to play this breakout, tips on establishing a future proof crypto portfolio, our selection of 10 top cryptocurrencies and blockchain stocks. Go to our Blockchain Investing Service >>