Why GoPro's Shares Dropped 16% in February
Shares of action camera company GoPro (NASDAQ: GPRO) fell 16% in February, according to data provided by S&P Global Market Intelligence, after the company reported fourth-quarter 2020 earnings. Shares recovered slightly early in March and were up 6% in the first four days of the month.
GoPro is trying to sell investors on a recovery story and that narrative took a hit last month. The typically strong fourth quarter resulted in a 32.3% drop in revenue to $357.8 million and a 53.6% drop in net income to $44.4 million, or $0.28 per share.
Image source: GoPro.
Source Fool.com
