Why GoPro, Inc. Stock Popped 19.5% in September
Shares of GoPro Inc. (NASDAQ: GPRO) jumped 19.5% in September, according to data from S&P Global Market Intelligence, after the action-camera and drone specialist offered strong preliminary results and introduced several new products.
To start, GoPro stock rose than 12% on Sept. 7 alone, which was the first trading day after the company announced that third-quarter 2017 revenue and gross margin would both arrive near the high ends of its previous guidance ranges. That guidance initially called for Q3 revenue of $290 million to $310 million, and gross margin of 36% to 38%.
GoPro Chief Operating Officer CJ Prober stated at the time that the company was enjoying strong demand for its products, adding that channel inventories had been reduced ahead of the impending launches of GoPro's new HERO6 and Fusion cameras.
Source: Fool.com
