GPRO - 1 Stock I Wouldn't Touch With a 10-Foot Pole -- and Here's Why
2024-06-06 04:55:00 ET
Share prices of GoPro (NASDAQ: GPRO) have fallen more than 60% over the past year. Wall Street is clearly worried about the company's prospects. Contrarian types might take a look at what amounts to blood in the street and think it is worth jumping aboard this maker of highly respected cameras.
I wouldn't -- and here's why.
At first, GoPro focused on making great cameras. These aren't just any cameras -- they're ultra-tough cameras that can be used to film death-defying stunts and survive to record the tale. Adventure seekers have long given the company's products high praise. But there are only so many people who want to film themselves deep sea diving or jumping out of planes. So GoPro has been attempting to broaden its product offering.
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1 Stock I Wouldn't Touch With a 10-Foot Pole -- and Here's Why