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Feb. 3, 2016, 5:36 p.m. EST

GoPro shares rebound slightly after new products detailed

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By Jeremy C. Owens


GoPro Inc. /zigman2/quotes/209165587/composite GPRO 0.00% shares rebounded slightly from a 16% drop Wednesday afternoon, after the company outlined new hardware and software offerings set to arrive in 2016. GoPro Chief Executive Nicholas Woodman said on a conference call that GoPro "is doubling down" after a disappointing holiday quarter, while detailing a revamp of GoPro's video editing software and announcing a new Hero 5. Much of GoPro's downfall has been focused on disappointing results for the Hero 4 Session camera that launched in 2015 and had its price cut twice, and analysts have said GoPro's software offerings were holding it back. GoPro executives also revealed that GoPro's first consumer drone offering, the Karma, will arrive in the first half of the year and a virtual-reality camera rig will launch in the summer. GoPro shares, which fell to a new low of $9 in immediate late trading after earnings were announced, nearly halved those losses after those announcements, recently trading down about 9.5%, near $9.70. That price would still be an all-time low for the company's stock.

US : U.S.: Nasdaq
$ 5.97
0.00 0.00%
Volume: 1.72M
June 27, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$954.68 million
Rev. per Employee

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