GPRO - This Stock Has Fallen 95% In 9 Years But Here's Why It Might Be a Buy Now
2023-05-24 08:34:00 ET
GoPro (NASDAQ: GPRO) listed on the stock market in 2014 priced at $24 per share. It promptly surged to a high of $93.85 before gradually sinking 95% over the last nine years to trade at just over $4 today.
Normally, investors' default setting would be to avoid that kind of stock at all costs. But the leader in action camera technology is making legitimate progress in turning its fortunes around. The company has expanded beyond selling hardware products alone, unlocking new revenue streams with high profit margins in the process.
With that said, GoPro's 2023 first-quarter financial results disappointed, especially because the company generated a net loss. But here's why the future looks much brighter and could result in significant gains for investors who buy GoPro stock today.
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This Stock Has Fallen 95% In 9 Years, But Here's Why It Might Be a Buy Now