GoPro Might Be Looking To Sell Itself

GoPro Might Be Looking To Sell Itself

On Monday, investors didn't seem too pleased by the déjà vu, sending GoPro's stock down 32 percent immediately following the company's news release.

GoPro missed sales by 28.3 percent, cut 2018 guidance and announced a workforce reduction of more than 20 percent.

More details regarding GoPro's financials will be shared in the final fourth quarter report scheduled to arrive early next month.

GoPro said the restructuring will set the company back between $23 million and $33 million, much of which will be cash expenditures to cover severance and related costs.

Short-sellers had raked in $45.4 million in mark-to-market profits before the report that the company may be trying to find a buyer.

The drop came after GoPro announced plans to lay off more than 250 employees and exit the drone industry, both in an attempt to return to profitability by the end of 2018.

Trump's tough talk should worry Pakistan
Even as India is emerging as a close confidant of the US, Trump's stunning blow could derail Pakistan, unless it has other ideas. The senator said his bill would call for this saved money to be invested in building infrastructure at home in the United States.

"GoPro is committed to turning our business around in 2018", said Woodman in a statement.

In the years since its 2014 initial public offering, formerly high-flying GoPro has sharply narrowed its vision and held several rounds of layoffs.

GoPro, whose cameras and drones are mostly used by sports fans and travel enthusiasts, also cut the price of its Hero6 cameras to $399 from $499. GoPro will exit the aerial market after selling its remaining Karma inventory.

Additionally, GoPro said it was pulling out of the aerial drone market despite its Karma drone reaching the #2 market position at its price point in 2017. Later in the day, GoPro CEO Nick Woodman told Bloomberg the company would be open to sale, but isn't actively shopping itself.

However, it appears clear the efforts to stop companies like DJI muscling in on its turf, have failed. The company undeniably makes the best action camera on the market and has a meaningful brand, but has so far been unable to make anything out of the two.

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