GPRO - 2 Big Reasons to Buy This Beaten-Down Growth Stock
The technology sector has been especially volatile over the last six months as investors weigh the impacts of economic shifts related to higher interest rates and geopolitical tensions in Europe. Many individual tech companies have lost 50% (or more) of their value in that timeframe amid the sell-off. But for one tech stock, the decline actually began eight years ago.
Shares of action-camera industry leader GoPro (NASDAQ: GPRO) have declined by 91% since hitting their all-time high in 2014. The company has struggled to grow what had been a one-dimensional camera hardware business. But over the last few years, it has diversified its revenue streams and convincingly turned things around.
Here are two reasons you should buy the stock now and hold it for the long term.
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2 Big Reasons to Buy This Beaten-Down Growth Stock