GPRO - Tech Sell-Off: 1 Dirt-Cheap Nasdaq Stock Down 50% to Buy Right Now
Action camera maker GoPro (NASDAQ: GPRO) has taken a beating on the stock market over the past year as investors seem to have lost confidence in its ability to clock rapid growth.
So it was not surprising to see investors pressing the panic button once again following the release of GoPro's first-quarter fiscal 2022 results on May 5. Though GoPro's quarterly earnings exceeded expectations, Wall Street wasn't impressed with the company's tepid guidance. However, a closer look at GoPro's history of quarterly results indicates that the company has a habit of lowballing its guidance and then delivering better-than-expected numbers.
GoPro has beaten analysts' earnings expectations by big margins over the last four quarters. More importantly, a closer look at the company's key metrics tells us that it is moving in the right direction. Let's look at the reasons why GoPro stock could come out of its rut and start accelerating once again.
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Tech Sell-Off: 1 Dirt-Cheap Nasdaq Stock Down 50% to Buy Right Now