Skip to main content

Why GoPro (GPRO) Shares Are Getting Obliterated Today

GPRO Cover Image

What Happened?

Shares of action camera company GoPro (NASDAQ:GPRO) fell 10.3% in the afternoon session after the company announced plans to cut its workforce by 26% as part of an updated restructuring plan, up from the initial target of 15%. A restructuring plan is often part of initiatives to improve business efficiency, leading to improved cost savings and a better liquidity profile.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy GoPro? Access our full analysis report here, it’s free.

What The Market Is Telling Us

GoPro’s shares are extremely volatile and have had 44 moves greater than 5% over the last year. But moves this big are rare even for GoPro and indicate this news significantly impacted the market’s perception of the business.

GoPro is down 59.4% since the beginning of the year, and at $1.39 per share, it is trading 63% below its 52-week high of $3.75 from November 2023. Investors who bought $1,000 worth of GoPro’s shares 5 years ago would now be looking at an investment worth $338.80.

Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.