GPRO - Why GoPro Stock Was All Blurry on Monday
2023-03-06 18:03:32 ET
The stock of action camera maker GoPro (NASDAQ: GPRO) wasn't a go-to for investors on Monday. It slid by about 2.4% on the day, in contrast to a less than 0.1% gain for the S&P 500 index. A long-serving figure at the company is departing, and that may be generating some concern among shareholders.
In a regulatory filing submitted late on Friday, GoPro revealed that James Lanzone, a member of its board of directors, will not stand for reelection at the company's next annual general shareholder meeting. This means he is essentially stepping down from his position.
In the tersely worded filing, GoPro said that his decision "did not result from any disagreement with the company." It didn't provide any reasons for his move.
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Why GoPro Stock Was All Blurry on Monday