- GoPro is shifting to a direct to consumer sales model for hardware and offering 2 subscription services.
- One subscription service is for GoPro owners and the other is for anyone (including GoPro owners).
- The company had a great 2H 2020 which has increased investor enthusiasm about its model shift and subscription growth.
- The big mistake the bull thesis makes is thinking COVID-19 was a headwind when it was a tailwind.
- GoPro is not a reopening play. It was a COVID-19 play. It benefited from the spike in outdoor activity and extreme sports which are great for social distancing.
For further details see:
Misnomer In The GoPro Bull Thesis