Wall Street is littered with tales of corporate successes, failures, and blockbuster comebacks. After teetering dangerously close to falling into the second category, action camera company GoPro (NASDAQ: GPRO) is working hard to execute an incredible turnaround.
GoPro stock listed publicly in 2014, and quickly printed an all-time high price of $93.85, but it now finds itself trading at just $5.71, a whopping 94% below that level. Investors have routinely shunned the company because of its one-dimensional business model, which was challenged for growth, but that's about to change.
GoPro is tapping brand new subscription-based revenue streams with high profit margins, and it's expanding its camera hardware line to reach a larger addressable market. This has turned the tide among Wall Street analysts, with many of them now in the bullish camp. Here's why.
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1 Growth Stock Down 94% to Buy on the Dip, According to Wall Street